Montana § 77-6-203 - Bid Deposit
Full text of Montana Montana Code Annotated § 77-6-203 — Bid Deposit, with citation guidance and answers to common questions.
§ 77-6-203. Bid Deposit
Bid deposit. (1) A person bidding for the lease of state lands shall deposit with the department, as evidence of good faith, a certified check, cashier's check, or money order in an amount equal to 100% of the annual rental bid in the case of grazing land and an amount equal to $20 per acre for each acre of agricultural land contained in the lease in the case of agricultural land. (2) The department shall retain the deposit of the successful bidder, apply it on the rental for the first year of the lease only, and return any balance of the deposit at the end of the first year to the successful bidder. The department shall return the deposits of the unsuccessful bona fide bidders. If the department finds a bid has been submitted that is frivolous, forged, or a bad faith bid or a bid submitted for purposes of harassment, the deposit is forfeited. The department shall make a reasonable attempt to notify the bidder in writing of the forfeiture and the reasons for it. (3) If the successful bidder fails to execute the lease for any reason, the deposit is forfeited. (4) The department shall credit all forfeited deposits to the interest and income account of the proper trust.
Frequently Asked Questions About Montana § 77-6-203
What does Montana Code Annotated § 77-6-203 cover?
Section 77-6-203 ("Bid Deposit") is part of the Montana Code Annotated, the codified statutory law of Montana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Montana § 77-6-203?
A common citation format is "Montana Code Annotated § 77-6-203" (Montana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Montana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Montana official source linked on this page or consult a licensed Montana attorney.
How does Montana § 77-6-203 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Montana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Montana.