Montana Code 82-2-421. Time for payment for ores
82-2-421. Time for payment for ores. (1) A person, association, company, or corporation engaged within this state in purchasing ore, minerals, or metals from or in smelting, milling, or otherwise reducing or preparing the same for market for any other person or persons, association, company, or corporation shall, within 20 days after any ore, minerals, or metals have arrived at the person’s or entity’s smelter, mill, reduction works, yards, or other place for receiving ore, minerals, or metals, make full settlement with and payment of the amount due to the consignor or consignors unless restrained or prevented from making the settlement and payment by an order, writ, or process of a court of competent jurisdiction.
Terms Used In Montana Code 82-2-421
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- 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.
- Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
- Process: means a writ or summons issued in the course of judicial proceedings. See Montana Code 1-1-202
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
(2)The provisions of this section are not applicable to any ore, minerals, or metals received pursuant to an existing written contract at the time of shipment between the consignor or consignors and the person, association, company, or corporation receiving the same when the time for settlement and payment is provided for in the contract.