ARM 42.4.2703
ARM 42.4.2703. ELIGIBILITY REQUIREMENTS TO HOLD A QUALIFIED ENDOWMENT
Cite as Mont. Admin. R. 42.4.2703
(1) To hold a qualified endowment an organization must be:
(a) incorporated or otherwise formed under the laws of Montana and exempt from federal income tax under 26 USC 501(c)(3); or
(b) a bank or trust company, as defined in 15-30-2327, MCA, holding an endowment fund on behalf of a Montana or foreign 501 (3)(c) organization.