Montana § 80-4-405 Maximum Bond Amount

Montana Statutes

§ 80-4-405 — Maximum Bond Amount

Montana·Title 80 AGRICULTURE·Ch. 4 AGRICULTURAL COMMODITIES·Part 4 Agricultural Commodities Generally

80-4-405 . Maximum bond amount. The maximum amount of any public warehouse operator bond may not exceed $1 million and the maximum amount of a commodity dealer bond may not exceed $1 million, except:

(1)any bonds compensating for equity or working capital deficiencies prescribed in parts 5 and 6 of this chapter must be added to the maximum bond amount. If the public warehouse operator is also licensed as a commodity dealer, only one bond amount is required.

(2)if required as part of a commodity warehouse operator's or commodity dealer's license modified by the department pursuant to 80-4-421 .

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80-4-405 . Maximum bond amount. The maximum amount of any public warehouse operator bond may not exceed $1 million and the maximum amount of a commodity dealer bond may not exceed $1 million, except:
(1) any bonds compensating for equity or working capital deficiencies prescribed in parts 5 and 6 of this chapter must be added to the maximum bond amount. If the public warehouse operator is also licensed as a commodity dealer, only one bond amount is required.
(2) if required as part of a commodity warehouse operator's or commodity dealer's license modified by the department pursuant to 80-4-421 .

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Legislative History

En. Sec. 5, Ch. 539, L. 1983; amd. Sec. 20, Ch. 452, L. 1993; amd. Sec. 3, Ch. 76, L. 1997; amd. Sec. 2, Ch. 175, L. 2011; amd. Sec. 2, Ch. 302, L. 2019.