Montana § 17-5-1318 - Terms Of Allocations
Full text of Montana Montana Code Annotated § 17-5-1318 — Terms Of Allocations, with citation guidance and answers to common questions.
§ 17-5-1318. Terms Of Allocations
Terms of allocations. (1) Unless terminated earlier by the issuer, an allocation is valid for 120 days from the date the department mails the notice of approval. Prior to the expiration of the 120-day period, the department may extend the period of validity for an additional 30 days on presentation of evidence that an agreement to purchase the cap bonds for which the allocation was given has been obtained from an entity legally authorized to purchase them. (2) If the cap bonds are not issued within the period of validity as determined under subsection (1), the allocation automatically expires. (3) All allocations expire on December 31 of the year in which they were made. However, this subsection does not limit the term of an allocation for which a valid carryforward election has been made.
Source: official Montana text · Last verified 2026-08-27
Frequently Asked Questions About Montana § 17-5-1318
What does Montana Code Annotated § 17-5-1318 cover?
Section 17-5-1318 ("Terms Of Allocations") is part of the Montana Code Annotated, the codified statutory law of Montana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Montana § 17-5-1318?
A common citation format is "Montana Code Annotated § 17-5-1318" (Montana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Montana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Montana official source linked on this page or consult a licensed Montana attorney.
How does Montana § 17-5-1318 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Montana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Montana.