The state or any department or agency of the state holding any of the securities of a local entity has the power to consent to any plan of adjustment of the indebtedness of the local entity by the board or official that has custody of and control over the securities.
Role Of State And State Agencies In Relation To Bankruptcy
Mont. Code Ann. § 7-7-134, under General Provisions Related to Local Governments.
Mont. Code Ann. § 7-7-134