Montana Statutes
§ 77-1-907 — Qualifications For Commercial Lessees -- Bonds
Montana·Title 77 STATE LANDS·Ch. 1 ADMINISTRATION OF STATE LANDS·Part 9 Commercial Leasing of State Trust Land
77-1-907 . Qualifications for commercial lessees -- bonds.
(1)Before accepting any offer for a commercial lease, the board shall establish, to its satisfaction, the financial capability of the person seeking the commercial lease and the legal authority of the person to conduct business in the state. Prior to executing a commercial lease, the board may require the posting of bonds, sureties, guarantees, or a letter of credit sufficient to ensure that the commercial purposes will be conducted as proposed with no harm to the financial interests of the beneficiaries.
(2)All commercial leases of which the commercial purpose includes the use of a hazardous substance as defined in 75-10-602 must be bonded to ensure a degree of cleanup of the hazardous substance that ensures protection of public
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Legislative History
En. Sec. 7, Ch. 404, L. 2003.
Nearby Sections
15
§ 77-1-1001
Inventories And Assessments§ 77-1-1002
Planning Of Lease Actions§ 77-1-101
Definitions§ 77-1-103
Administration Of Lands§ 77-1-104
Survey Of Lands§ 77-1-105
Determining Title§ 77-1-106
Setting Of Rates Or Fees -- Rules§ 77-1-110
Written Undertaking Required In Legal Action For Challenge To Use Or Disposition Of State Lands§ 77-1-1101
Void§ 77-1-1102
Void§ 77-1-1103
Void