Montana § 69-3-505 - Issuance Of Certain Short-Term Obligations
Full text of Montana Montana Code Annotated § 69-3-505 — Issuance Of Certain Short-Term Obligations, with citation guidance and answers to common questions.
§ 69-3-505. Issuance Of Certain Short-Term Obligations
Issuance of certain short-term obligations. Such public utility may issue notes or drafts maturing not more than 1 year after the date of such issue, renewal, or assumption of liability and aggregating, together with all other then outstanding notes and drafts of a maturity of 1 year or less on which such public utility is primarily or secondarily liable, not more than 5% of the par value of the other securities of the public utility then outstanding, without application to or order of the commission. In the case of securities having no par value, the par value for the purpose of this section shall be the fair market value as of the date of issuance of such notes or drafts.
Source: official Montana text · Last verified 2026-08-27
Frequently Asked Questions About Montana § 69-3-505
What does Montana Code Annotated § 69-3-505 cover?
Section 69-3-505 ("Issuance Of Certain Short-Term Obligations") 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 § 69-3-505?
A common citation format is "Montana Code Annotated § 69-3-505" (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 § 69-3-505 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.