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| Issuer | Imperial and Royal Military General Governor of Montenegro (K.u.K. Militär-Generalgouvernement) |
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| Year | 1917 |
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| Composition | Paper |
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| Obverse description | The face of this occupation note is printed entirely in German text, stating the issuing authority of the Imperial and Royal Military General Governor, the nominal value of 5 Perpera, and the applicable exchange rate. The layout is typographic, with no pictorial vignette, arranged in a formal letterpress style typical of wartime military currency. A serial number appears on the note alongside the prescribed administrative text. |
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| Protection type | Watermark |
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| Comments |
Montenegro fell to Austro-Hungarian forces in January 1916, and the K.u.K. Militär-Generalgouvernement moved quickly to assert administrative control — including monetary control. The Perpera had been the currency of the Kingdom of Montenegro since 1906, and the occupying authority chose to retain the denomination rather than impose the Krone outright, a calculated decision to reduce friction with the local population.
The M150 series was produced for internal occupation use and circulated alongside requisition notes from the same administration. Surviving examples in any grade are considerably scarcer than their Serbian occupation counterparts from the same period.