Montana § 77-3-312 Leasing Procedures

Montana Statutes

§ 77-3-312 — Leasing Procedures

Montana § 77-3-312

Title 77STATE LANDS

Ch. 3ROCK, MINERAL, COAL, OIL, AND GAS RESOURCES

Part 3Coal

This text of Montana § 77-3-312 (Leasing Procedures) 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. § 77-3-312 (2026).

Text

77-3-312 . Leasing procedures.

(1)(a) Prior to issuing a coal mining lease, the board shall evaluate the coal and land proposed to be leased for the purpose of determining the fair market value of any coal reserves located on the land, giving opportunity for and consideration to public comments on the evaluation.

(b)(i) The board may determine fair market value by competitive bid or through an appraisal.

(ii)If no competitive bids are offered on the coal and land to be leased, the board may enter into a lease that is at least at the full market value as determined by the appraisal pursuant to subsection (1)(b)(i).

(2)Except as provided in subsection (1)(b), leases must be awarded by a competitive bid system, including a bonus bid for the first year's rental that may be amortized for a

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

77-3-312 . Leasing procedures. (1) (a) Prior to issuing a coal mining lease, the board shall evaluate the coal and land proposed to be leased for the purpose of determining the fair market value of any coal reserves located on the land, giving opportunity for and consideration to public comments on the evaluation.
(b) (i) The board may determine fair market value by competitive bid or through an appraisal.
(ii) If no competitive bids are offered on the coal and land to be leased, the board may enter into a lease that is at least at the full market value as determined by the appraisal pursuant to subsection (1)(b)(i).
(2) Except as provided in subsection (1)(b), leases must be awarded by a competitive bid system, including a bonus bid for the first year's rental that may be amortized for a period of up to 5 years at the discretion of the board, and a lease may not be awarded at less than fair market value.

Legislative History

En. Sec, 38, Ch. 60, L. 1927; re-en. Sec. 1805.38, R.C.M. 1935; amd. Sec. 30, Ch. 428, L. 1973; amd. Sec. 1, Ch. 358, L. 1975; R.C.M. 1947, 81-501(part); amd. Sec. 2, Ch. 332, L. 2011.