I. If an owner does not own land in the town where such owner intends to excavate and has filed an intent to excavate form with respect to any parcel of land, the assessing officials shall, within 30 days of the receipt of that filing, notify the owner in writing of the amount and conditions of any bond or other security deemed necessary to secure the payment of the excavation tax to be due from the excavation described in the notice of intent to excavate. The owner shall provide the bond within 30 days of notice or be guilty of a misdemeanor. No owner who owns land in the town where the owner intends to excavate shall be required to post a bond or other security as a condition for filing an intent to excavate or receiving a permit to excavate, unless the owner is delinquent on town timber taxes or property taxes.
II. [Repealed].
III. If an owner ceases to own land in the town where such owner is excavating after filing an intent to excavate form, such owner shall notify the assessing officials and the department in writing of the change in ownership within 15 days of such change. An owner who neglects to so notify the assessing official or the department shall be guilty of a misdemeanor.
IV. If any person commences excavating or continues excavating without first furnishing a bond or other securities required to secure payment of taxes by the assessing officials, such person and the owner of such land shall each be guilty of a misdemeanor.