2017 Montana Code Annotated
TITLE 30. TRADE AND COMMERCE
CHAPTER 10. SECURITIES REGULATION
Part 10. Securities Restitution Assistance Fund
30-10-1004. Creation of securities restitution assistance fund
30-10-1004. (Temporary) Creation of securities restitution assistance fund. (1) There is an account in the state special revenue fund to the credit of the commissioner for use only for securities restitution assistance. This account may be referred to as the "securities restitution assistance fund" or "fund". The money in the fund is statutorily appropriated, as provided in 17-7-502, to the commissioner for the purposes provided in subsection (4) of this section.
(2) (a) The fund consists of amounts received by the commissioner from:
(i) persons who have violated any provision of parts 1 through 3 of this chapter;
(ii) persons who have voluntarily contributed to the fund; and
(iii) a portion of fees collected under 30-10-209(1)(b) as provided in 30-10-209(6)(b).
(b) Amounts received by the commissioner for deposit in the fund do not include administrative penalties or fines imposed under this chapter and as referenced under the Montana Administrative Procedure Act, Title 2, chapter 4, part 6.
(c) The amounts received for the fund may not be placed in the general fund.
(3) Amounts received by the commissioner for deposit in the fund must be promptly turned over to the state treasurer for deposit in the fund created under subsection (1).
(4) The fund may be used by the commissioner only to pay awards of restitution assistance under this part. (Terminates June 30, 2021--sec. 55, Ch. 151, L. 2017.)
History: En. Sec. 4, Ch. 58, L. 2011; amd. Sec. 3, Ch. 66, L. 2013; amd. Sec. 5, Ch. 286, L. 2013.
