38.3.2106 SECURITY INTEREST OR OTHER ENCUMBRANCE
(1) Any Montana public service commission
operating certificate or permit can be a subject of a security interest or
other encumbrance by another party with commission approval. Such security interest or encumbrance must
be imposed as provided for under the Uniform Commercial Code, Title 30, MCA,
(2) The filing of Form UCC-1 or 2 with the
commission for filing in the carrier's public record will constitute notice of
a preexisting security interest or encumbrance.
History: Sec. 69-12-201, MCA; IMP, Sec. 69-12-325, MCA; Eff. 12/31/72.