Montana Code 85-1-505. Lease conditions
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85-1-505. Lease conditions. (1) The lessee shall pay a royalty to the state as required in the lease.
Terms Used In Montana Code 85-1-505
- 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. See Montana Code 1-1-201
(2)The department may authorize provisions in the lease that offer economic incentives for rapid development of the project or impose economic penalties for delays in development, which may include cancellation of the lease.