Montana Statutes
§ 71-3-713 — Acknowledgment Of Satisfaction Of Lien -- Penalty
Montana·Title 71 MORTGAGES, PLEDGES, AND LIENS·Ch. 3 LIENS·Part 7 Crop Liens for Seed or Grain and Liens for Hail Insurance
71-3-713 . Acknowledgment of satisfaction of lien -- penalty.
(1)Whenever the indebtedness that is a lien upon grain or other crops is paid or satisfied on or before November 1 of the current year, it is the duty of the lienor to acknowledge satisfaction of the lien within 20 days after receiving payment and to discharge the lien of record. If any lienor fails to acknowledge satisfaction and discharge of the lien, the lienor is liable to any person injured by the failure in the amount of the injury and the costs of action. If any hail lien is not satisfied on or before March 1 of the next succeeding year after the insurance was carried on the crop, the lien is considered satisfied and released of record.
(2)A termination statement as described in 30-9A-513 must be filed with the secretar
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Legislative History
En. Sec. 3, Ch. 223, L. 1921; re-en. Sec. 8365, R.C.M. 1921; re-en. Sec. 8365, R.C.M. 1935; amd. Sec. 11-124, Ch. 264, L. 1963; R.C.M. 1947, 45-707; amd. Sec. 8, Ch. 295, L. 1987; amd. Sec. 158, Ch. 305, L. 1999.
Nearby Sections
15
§ 71-3-1001
Definitions§ 71-3-1004
How Lien Perfected§ 71-3-1006
Date Lien Arises§ 71-3-1007
Priority§ 71-3-1008
Lien For Running Account As Single Contract§ 71-3-1009
Liability Fixed§ 71-3-101
Definitions§ 71-3-1011
Notice To Purchaser Of Oil And Gas§ 71-3-102
How Liens Created§ 71-3-103
No Lien For Claim Not Due