17-5-1123. Deposits for security. Whenever under any law of this state a deposit of public obligations is authorized as security, public obligations otherwise meeting the authorized criteria may be deposited and must be accepted as security, provided that:
(1) in the case of a certificated public obligation, the instrument is assigned to the holder of the deposit; and
(2) in the case of an uncertificated public obligation, registration of a pledge is authorized by the system and the pledge of the uncertificated obligation is registered.
History: En. Sec. 11, Ch. 364, L. 1983.
Structure Montana Code Annotated
Part 11. Public Obligations Registration
17-5-1103. Declarations of state interest -- purposes
17-5-1105. Applicability -- election -- rescission
17-5-1106. Records -- no public inspection -- locations
17-5-1107. through 17-5-1110 reserved
17-5-1111. System of registration
17-5-1112. Certificated public obligation -- execution -- authentication
17-5-1113. Certificated public obligation -- signatures
17-5-1114. Certificated public obligation -- seal
17-5-1115. Uncertificated public obligation -- signed statements
17-5-1116. through 17-5-1120 reserved
17-5-1121. Agents -- depositories