80-4-504. Bond of applicant for license -- additional bond -- additional obligations. (1) Each applicant for a warehouse operator's license shall file a bond or its equivalent, as established by department rule, with the department. The bond must be in the form and must contain the terms and conditions that the department may prescribe by rule to carry out the purpose of 80-4-505 and this section.
(2) The department may demand an additional bond if the nature or volume of the business conducted by the warehouse operator warrants an increase.
(3) The warehouse operator may give a single bond to cover all warehouses operated by the operator.
(4) Any changes in the capacity of a warehouse or installation of any new warehouse involving a change in the bond liability under 80-4-505 must be reported in writing to the director, and an appropriate bond must be filed prior to the operation of the warehouse or installation.
History: En. Sec. 25, Ch. 539, L. 1983; amd. Sec. 2, Ch. 578, L. 1985; amd. Sec. 20, Ch. 452, L. 1993; amd. Sec. 2579, Ch. 56, L. 2009.
Structure Montana Code Annotated
Chapter 4. Agricultural Commodities
Part 5. Agricultural Commodity Warehouse Operators
80-4-501. License necessary to operate public warehouse
80-4-502. Licenses to warehouse operator -- issuance -- renewal -- conditions precedent
80-4-504. Bond of applicant for license -- additional bond -- additional obligations
80-4-505. Amount of bond -- cancellation
80-4-507. through 80-4-520 reserved
80-4-521. Duties of warehouse operator -- content of records
80-4-522. Schedule of charges -- posting
80-4-523. Required receipt of agricultural commodities according to capacity
80-4-524. Discrimination in charge by warehouse operator prohibited
80-4-525. Scale weight tickets -- form -- issuance
80-4-526. Warehouse receipts -- written terms
80-4-527. Warehouse receipt -- issuance -- cancellation
80-4-528. Penalty for unlawful issue of warehouse receipts
80-4-530. Shipment of stored grain to terminal grain warehouse outside state
80-4-532. Delivery of grain from different warehouse
80-4-533. Loss of receipts -- conditions of reissue
80-4-534. Cancellation of insurance -- suspension of license
80-4-537. Examination of stored agricultural commodities