Montana § 2-15-2041 - Montana End Of Watch Trust

§ 2-15-2041. Montana End Of Watch Trust

Montana end of watch trust. (1) There is a Montana end of watch trust within the permanent fund type for the purpose of supporting eligible law enforcement officers and their surviving immediate family in the event of an officer's death or catastrophic injury in the line of duty. (2) The department may accept financial contributions and gifts for the trust. When accepted, the contributions and gifts must be deposited in the trust. (3) The legislature may transfer money to the trust. (4) The state treasurer shall each month transfer from the trust to the end of watch state special revenue account established in 2-15-2042 the amount of earnings, excluding unrealized gains and losses, required to meet the obligations of the state that are payable from the account. Earnings not transferred to the account established in 2-15-2042 must be retained in the trust account. Any unexpended interest that transfers back into the trust can be appropriated if monthly obligations exceed the current available interest in the account. If this portion of the trust is appropriated in any fiscal year, the state treasurer shall transfer that same amount from the general fund to the trust in the following fiscal year. Unexpended interest in excess of the principal of the trust may be used for trust-related litigation expenses in the event the administrative fees authorized in 2-15-2046 are insufficient. (5) The board of investments shall invest money deposited in the fund established under this section as provided by law.