Montana Bankers Ass'n v. Montana Department of Revenue

The Montana Department of Revenue (DOR) appeals from the judgment of the District Court, Lewis and Clark County, granting summary judgment and declaratory relief to the Montana Bankers Association (MBA), various member banks, and an individual shareholder. The substance of the judgment held that stocks, bonds, treasury notes and other obligations of the United States held by Montana bánks were exempt from taxation under the “Montana Bank Shares Tax Act”, and implementing provisions of the Montana Administrative Code.

The procedural history of this case commenced on May 3, 1976, when MBA…