17-1-113. Securities lending program. The state treasurer may, subject to the approval of the state board of investments, establish a securities lending program for all securities held in custody under 17-1-111. All loaned securities must be secured by equivalent securities of the same class in an amount equal to at least 100% of the market value of the loaned securities as determined by the board. All fees and proceeds earned by the securities lending program must be deposited pro rata in the funds that loaned the securities.
History: En. Sec. 1, Ch. 272, L. 1981.
Structure Montana Code Annotated
Chapter 1. General Administration
Part 1. General Administration and Fiscal Officers
17-1-101. Definition of department
17-1-102. Uniform accounting system and expenditure control
17-1-103. Assistance to legislature
17-1-105. Statewide cost allocation plan
17-1-106. Agency recovery of indirect costs -- exemption
17-1-107. through 17-1-110 reserved
17-1-111. General fiscal duties of state treasurer
17-1-113. Securities lending program
17-1-114. through 17-1-120 reserved
17-1-122. Discretionary authority of state treasurer
17-1-124. Authority of state auditor concerning securities
17-1-125. through 17-1-130 reserved