Montana § 32-1-437 - Acceptance And Issuance Of Drafts -- Rulemaking Authority
Full text of Montana Montana Code Annotated § 32-1-437 — Acceptance And Issuance Of Drafts -- Rulemaking Authority, with citation guidance and answers to common questions.
§ 32-1-437. Acceptance And Issuance Of Drafts -- Rulemaking Authority
Acceptance and issuance of drafts -- rulemaking authority. (1) A bank organized and existing under the laws of Montana may accept for payment at a future date drafts drawn upon it by its customers authorizing the holders of the drafts to draw drafts upon it or its correspondents at sight or on time if the total amount of drafts accepted for any one person, firm, or corporation does not at any one time exceed 20% of the capital and surplus of the accepting or issuing bank. (2) The department may adopt rules to implement this section.
Source: official Montana text · Last verified 2026-08-27
Frequently Asked Questions About Montana § 32-1-437
What does Montana Code Annotated § 32-1-437 cover?
Section 32-1-437 ("Acceptance And Issuance Of Drafts -- Rulemaking Authority") 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 § 32-1-437?
A common citation format is "Montana Code Annotated § 32-1-437" (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 § 32-1-437 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.