Montana § 19-20-502 - Restrictions On Use Of Money
Full text of Montana Montana Code Annotated § 19-20-502 — Restrictions On Use Of Money, with citation guidance and answers to common questions.
§ 19-20-502. Restrictions On Use Of Money
Restrictions on use of money. (1) A member of the retirement board or an employee of the board may not: (a) have an interest, directly or indirectly, in the gains or profits of any investment of money of the retirement system, except as provided in this section; (b) directly or indirectly, for the member or employee or as an agent, in any manner use the money or deposits of the retirement system except to make current and necessary expenditures authorized by the retirement board; or (c) become an endorser or surety or in any manner an obligor for money loaned by or borrowed from the retirement system. (2) The assets of the retirement system may not be used for or diverted to any purpose other than for the exclusive benefit of the members and their beneficiaries and for paying the reasonable expenses of administering the retirement system. (3) The board may not engage in a transaction prohibited by section 503(b) of the Internal Revenue Code. (4) The assets of the retirement system must remain in trust until a warrant for the assets has been paid or an electronic funds transfer of system assets has been made in accordance with law.
Source: official Montana text · Last verified 2026-08-27
Frequently Asked Questions About Montana § 19-20-502
What does Montana Code Annotated § 19-20-502 cover?
Section 19-20-502 ("Restrictions On Use Of Money") 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 § 19-20-502?
A common citation format is "Montana Code Annotated § 19-20-502" (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 § 19-20-502 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.