Montana Code Annotated 2017

TITLE 39. LABOR

CHAPTER 71. WORKERS' COMPENSATION

Part 23. Compensation Plan Number Three

Property Of State Fund -- Investment Required -- Exception

39-71-2320. Property of state fund -- investment required -- exception. [Except for the management rate transfer under 17-1-512,] all premiums and other money paid to the state fund, all property and securities acquired through the use of money belonging to the state fund, and all interest and dividends earned upon money belonging to the state fund are the sole property of the state fund and must be used exclusively for the operations and obligations of the state fund. [Except for the management rate transfer,] the money collected by the state fund for claims for injuries occurring on or after July 1, 1990, may not be used for any other purpose and may not be transferred by the legislature to other funds or used for other programs. However, state fund money must be invested by the board of investments provided for in 2-15-1808, and subject to the investment agreement with the board of investments, the earnings on investments are the sole property of the state fund as provided in this section. (Bracketed language terminates June 30, 2019--sec. 6, Ch. 4, Sp. L. November 2017.)

History: En. Sec. 9, Ch. 613, L. 1989; amd. Sec. 3, Ch. 424, L. 1995; amd. Sec. 17, Ch. 276, L. 1997; amd. Sec. 2, Ch. 603, L. 2003; amd. Sec. 2, Ch. 4, Sp. L. November 2017.