71-3-712. How lien obtained. Any person, company, association, or corporation entitled to a lien under 71-3-711 shall, within 30 days after the insurance is issued, file in the office of the secretary of state a statement of agricultural lien as provided in 71-3-125. A mutual company may file a lien for the largest amount that may become due under its assessment power, and if the amount assessed is not as large as the amount of the lien claimed, the amount assessed and due is the amount the mutual insurance company is entitled to under this lien. Unless the person, company, association, or corporation entitled to a lien files the agricultural lien statement within the time required, the person or entity is considered to have waived the right to a lien.
History: En. Sec. 2, Ch. 223, L. 1921; re-en. Sec. 8364, R.C.M. 1921; re-en. Sec. 8364, R.C.M. 1935; R.C.M. 1947, 45-706; amd. Sec. 7, Ch. 295, L. 1987; amd. Sec. 5, Ch. 529, L. 1989; amd. Sec. 2290, Ch. 56, L. 2009.
Structure Montana Code Annotated
Title 71. Mortgages, Pledges, and Liens
Part 7. Crop Liens for Seed or Grain and Liens for Hail Insurance
71-3-701. Lien for seed or grain
71-3-704. Acknowledgment of satisfaction of lien -- penalty
71-3-705. Destruction of records -- when allowed
71-3-706. through 71-3-710 reserved