Montana § 77-1-907 Qualifications For Commercial Lessees -- Bonds

Montana Statutes

§ 77-1-907 — Qualifications For Commercial Lessees -- Bonds

Montana § 77-1-907

Title 77STATE LANDS

Ch. 1ADMINISTRATION OF STATE LANDS

Part 9Commercial Leasing of State Trust Land

This text of Montana § 77-1-907 (Qualifications For Commercial Lessees -- Bonds) is published on Counsel Stack Legal Research, covering Montana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mont. Code Ann. § 77-1-907 (2026).

Text

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

Free access — add to your briefcase to read the full text and ask questions with AI

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 health, safety, and welfare and of the environment in a manner that protects the long-term financial interest of the beneficiaries.