Montana Title 17. State Finance § 17-8-308. Payment of interest--land grant warrants

The interest on all land grant warrants is payable on July 1 following the date of issue and annually after that date. Whenever there is sufficient money in any of the land grant funds to pay outstanding warrants or interest on the warrants, the treasurer shall cause to be published a brief notice that the warrants or the interest on particular warrants on which interest would be payable on July 1, describing them by numbers and names of funds, will be payable. Upon the presentation of any warrants on or at any time after July 1, the treasurer shall pay the interest on the warrants, endorsing the date of payment and amount paid of each warrant, and returning the warrant to the holder. The treasurer shall keep a register showing the dates and amounts of each interest payment on each warrant in each fund. If any warrants are called for payment, interest on the warrants ceases on the date fixed in the notice.