Montana § 71-3-713 Acknowledgment Of Satisfaction Of Lien -- Penalty

Montana Statutes

§ 71-3-713 — Acknowledgment Of Satisfaction Of Lien -- Penalty

Montana § 71-3-713

Title 71MORTGAGES, PLEDGES, AND LIENS

Ch. 3LIENS

Part 7Crop Liens for Seed or Grain and Liens for Hail Insurance

This text of Montana § 71-3-713 (Acknowledgment Of Satisfaction Of Lien -- Penalty) 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. § 71-3-713 (2026).

Text

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

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

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 secretary of state with the same obligations and penalties described in subsection (1).

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.