44.11.710    INTEREST PAID ON ACCOUNTS

(1) Interest paid on a constituent services account established under Title 13, chapter 37, part 4, MCA, 13-37-240, MCA, and the rules in this chapter, may be received and used to provide constituent services if:

(a) the interest is deposited directly into the constituent services account;

(b) the interest is paid by a bank, savings and loan, credit union, brokerage firm, or other financial or investment entity subject to regulation by the state of Montana or an agency of the United States government; and

(c) the interest paid is the entity's prevailing money market, savings, or certificate of deposit rate paid to other investors or depositors with similar interest bearing accounts.

History: 13-37-114, MCA; IMP, 13-37-401, 13-37-402, MCA; NEW, 2008 MAR p. 2009, Eff. 9/12/08; TRANS, from 44.10.543, 2016 MAR p. 28, Eff. 1/9/16.