Montana Code 77-1-1110. Definitions
Current as of: 2023 | Check for updates
|
Other versions
77-1-1110. Definitions. Solely for the purposes of this part, the following definitions apply:
Terms Used In Montana Code 77-1-1110
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Statute: A law passed by a legislature.
(1)”Footprint” means a structure or other constructed interruption or modification to the bed of a navigable river below the low-water mark as provided in 70-16-201.
(2)”Full market value” means an amount calculated based upon the area of a footprint and the fair market value as determined by rule or statute. The annual payment for a license issued under this part is $150.
(3)”Navigable river” means a river adjudicated as navigable for title purposes by a court of competent jurisdiction.