The following definitions apply to this subchapter:
- (1) "Obligation" means, for the purposes of determining the applicability of the exclusion of interest income, an interest-bearing financial instrument of the United States government, a state, or a political subdivision, in the form of a bond, other written certificate, or loan issued pursuant to the exercise of such governmental body's borrowing power for use in governmental operations.
Authorizing statute(s): 15-30-2620, MCA
Implementing statute(s): 15-30-2120, MCA
History: NEW, 2004 MAR p. 3147, Eff. 12/17/04; AMD, 2010 MAR p. 1088, Eff. 4/30/10; AMD, 2019 MAR p. 2384, Eff. 12/28/19; AMD, 2025 MAR, 42-1088, Eff. 1/25/25.