Montana § 19-50-101 - Definitions
Full text of Montana Montana Code Annotated § 19-50-101 — Definitions, with citation guidance and answers to common questions.
§ 19-50-101. Definitions
Definitions. For the purposes of this chapter, unless a different meaning is plainly implied by the context, the following definitions apply: (1) "Administrator" or "board" means the public employees' retirement board created in 2-15-1009 or an appropriate officer of a political subdivision. (2) "Deferred compensation" means the income that an employee may legally defer in a deferred compensation plan established under this chapter pursuant to the rulings of the internal revenue service and that, while invested, is exempt from state and federal income tax on the employee's contribution and on the interest, dividends, and capital gains until ultimately distributed to the employee. (3) "Eligible deferred compensation plan" means a plan meeting the requirements of section 457 of the Internal Revenue Code, 26 U.S.C. 457. (4) "Employee" means any person, including independent contractors and elected officials, receiving compensation from the state or a political subdivision for performing services. (5) "Fund" means the state deferred compensation investment account. (6) "Participant" means either an employee who is enrolled or a previous employee who remains enrolled in an eligible deferred compensation plan established under this chapter. (7) "Political subdivision" means any city, town, county, or other political subdivision of the state of Montana, including the Montana university system. (8) "Roth account" means a separate account within a deferred compensation plan established under this chapter that is composed of after-tax contributions made pursuant to section 402A of the Internal Revenue Code, 26 U.S.C. 402A. (9) "Roth deferral" means an after-tax contribution by a participant to the participant's deferred compensation account.
Frequently Asked Questions About Montana § 19-50-101
What does Montana Code Annotated § 19-50-101 cover?
Section 19-50-101 ("Definitions") 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 § 19-50-101?
A common citation format is "Montana Code Annotated § 19-50-101" (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 § 19-50-101 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.