77-3-119. Bonds to state. The board may, at the time of the execution and delivery of a mining lease or at any time during the life of the lease, require a mining lessee to file with the department, for the benefit of the state, a bond or bonds conditioned to protect the rights of the state, particularly in the payment to the proper officer of the state of the royalties reserved in the mining lease. The bond or bonds shall be in a form and amount prescribed by the board. The board may at any time require new or additional bonds if in its discretion the interests of the state are not adequately protected by the bond or bonds previously filed.
History: En. Sec. 7, Ch. 148, L. 1937; amd. Sec. 41, Ch. 428, L. 1973; R.C.M. 1947, 81-607.
Structure Montana Code Annotated
Chapter 3. Rock, Mineral, Coal, Oil, and Gas Resources
Part 1. Prospecting Permits and Mining Leases
77-3-102. Mining leases authorized
77-3-103. Prospecting permits authorized
77-3-104. Notice of permit or lease approval
77-3-105. Assignment of leases or permits
77-3-106. Disposition of royalties, fees, and penalties
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
77-3-114. Restrictions on mining leases on lands already subject to coal, oil, or gas lease
77-3-117. Modification of lease provisions
77-3-118. Restrictions on removal of minerals and gems during preliminary prospecting period
77-3-120. Bonds to protect prior purchasers, lessees, or contractees
77-3-121. Pooling agreements and unit plans of operation
77-3-122. Sales, contracts for sale, and other leases subject to mining leases
77-3-124. through 77-3-129 reserved
77-3-130. Limitation on public inspection rights