90-8-305. Sale of debentures.
90-8-305. Sale of debentures. (1) A qualified Montana capital company or a qualified Montana small business investment capital company is authorized to issue and sell debentures to the permanent coal tax trust fund.
(2) Proceeds received by a qualified Montana capital company or by a qualified Montana small business investment capital company from the sale of debentures authorized in subsection (1) must be invested in accordance with the provisions of 90-8-301, except that the time periods for making qualified investments must be calculated from the date the company sells the debentures to the permanent coal tax trust fund.
History: En. Sec. 1, Ch. 708, L. 1989; amd. Sec. 13, Ch. 263, L. 1991; amd. Sec. 16, Ch. 589, L. 1991; amd. Sec. 12, Ch. 410, L. 1999.