Idaho Code 47-808 – Bond
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(1) The board shall require the execution of a good and sufficient bond in an amount the board determines reasonable which shall not be less than one thousand dollars ($1,000) in favor of the state of Idaho conditioned on the payment of all damages to the surface and improvements thereon, whether or not the lands have been sold or leased for any other purposes.
(2) Upon commencement of operations for the drilling of any well, lessee shall be required by the board to furnish such a bond the board determines reasonable which shall not be less than six thousand dollars ($6,000) which bond shall be in lieu of the bond required in subsection (1) of this section and shall cover all subsequent operations on said lease.
Terms Used In Idaho Code 47-808
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114