Montana § 7-3-1320 - Liability For Deposited Funds
Full text of Montana Montana Code Annotated § 7-3-1320 — Liability For Deposited Funds, with citation guidance and answers to common questions.
§ 7-3-1320. Liability For Deposited Funds
Liability for deposited funds. (1) When the funds of the municipality are deposited and kept in designated banks according to the provisions of this part, the treasurer and the sureties on the treasurer's official bond are exempt from all liability for the loss of any funds deposited if the loss is caused by the failure, bankruptcy, or any other act or default of the banks, but the want of care or due diligence on the part of the treasurer or commission in protecting the municipality against loss does not exempt the treasurer, the members of the commission, or sureties on their respective bonds from liability. (2) This section may not deprive the municipality of any right or remedy against a defaulting bank or against its officers or stockholders.
Source: official Montana text · Last verified 2026-08-27
Frequently Asked Questions About Montana § 7-3-1320
What does Montana Code Annotated § 7-3-1320 cover?
Section 7-3-1320 ("Liability For Deposited Funds") 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 § 7-3-1320?
A common citation format is "Montana Code Annotated § 7-3-1320" (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 § 7-3-1320 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.