Montana Statutes
§ 77-3-204 — Royalty Provisions
Montana·Title 77 STATE LANDS·Ch. 3 ROCK, MINERAL, COAL, OIL, AND GAS RESOURCES·Part 2 Nonmetallic Minerals, Excluding Coal, Oil, and Gas
77-3-204 . Royalty provisions.
(1)All such leases shall be upon a royalty basis calculated upon a gross value by weight or cubic measurement as is most favorable for the particular substance being mined or extracted from the lands. The gross value shall be determined at the mine or site of operation, and the rates shall be the same that ordinarily would be charged by private owners under similar circumstances or as in the determination of the board is fair and reasonable.
(2)The board may demand a cash deposit to guarantee the payment of the royalties, a surety bond, or both a cash deposit and bond, as the board may determine.
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Legislative History
En. Sec. 52, Ch. 60, L. 1927; re-en. Sec. 1805.52, R.C.M. 1935; amd. Sec. 1, Ch. 194, L. 1945; amd. Sec. 1, Ch. 147, L. 1953; amd. Sec. 1, Ch. 207, L. 1961; amd. Sec. 49, Ch. 428, L. 1973; R.C.M. 1947, 81-701(part).
Nearby Sections
15
§ 77-3-101
Definitions§ 77-3-103
Prospecting Permits Authorized§ 77-3-104
Notice Of Permit Or Lease Approval§ 77-3-105
Assignment Of Leases Or Permits§ 77-3-107
Through 77-3-110 Reserved§ 77-3-111
Applications For Mining Lease§ 77-3-112
Examination Of Lands Prior To Leasing§ 77-3-113
Quantity Of Lands Covered By Lease§ 77-3-115
Lease Provisions§ 77-3-116
Royalty Provisions§ 77-3-117
Modification Of Lease Provisions