Mont. Code Ann. § 82-1-305
This is the official text of Mont. Code Ann. § 82-1-305, part of Montana’s Code Ann — part of the compiled statutory law of Montana, published by the state as "Code Ann." Browse the sections below, each linked to its official government source.
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82-1-305 Trust for unlocatable mineral, leasehold, and royalty interest owners -- penalty
Official statutory text
82-1-305 . Trust for unlocatable mineral, leasehold, and royalty interest owners -- penalty. (1) A person may not personally hold for longer than 6 months any bonuses, rental payments, royalties, or other income for unlocatable owners or claimants of an interest in minerals underlying a tract of land. Within the 6-month period, the person shall petition the district court for creation of a trust, as provided in 82-1-302 .
(2) A person failing to comply with subsection (1) is liable for all attorney fees and court costs and interest on funds subject to subsection (1) at twice the current average passbook account rate paid by financial institutions in any district in which the property or part of the property is located.
(2) A person failing to comply with subsection (1) is liable for all attorney fees and court costs and interest on funds subject to subsection (1) at twice the current average passbook account rate paid by financial institutions in any district in which the property or part of the property is located.
Status: in_force · Read it on the official government site
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