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.
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.
Structure Montana Code Annotated
Chapter 4. Agricultural Commodities
Part 4. Agricultural Commodities Generally
80-4-404. Terms of licenses -- renewals
80-4-406. Appointment by nonresident licensee of agent to receive process
80-4-407. Reports to the department
80-4-408. Examination of books
80-4-409. Confidentiality of records
80-4-410. Publication of reports
80-4-411. Employment of assistants
80-4-412. through 80-4-414 reserved
80-4-415. Creation of commodity dealer/public warehouse operators account -- deposit of funds
80-4-416. Deposit of deficiency funds and liquidation funds
80-4-417. and 80-4-418 reserved
80-4-419. Bankruptcy as grounds for cancellation
80-4-421. License suspension and revocation -- renewal
80-4-422. Delayed payment or purchase contracts
80-4-424. Director's authority -- investigative hearing
80-4-425. Action on bond by persons injured -- liability of surety -- statute of limitations
80-4-428. Penalty for operating without license -- misrepresentation