76-4-1239. Bonding requirements. No subdivided lands may be registered or considered registered until the subdivider has filed a bond with the department, executed by a surety company authorized to do business in this state, on a form approved by the board and in such amount as the board shall deem necessary to protect purchasers from damages arising out of violation of any provision of Montana law or any rule promulgated in furtherance thereof, when the volume of business of the subdivider and other related factors are taken into consideration, but in no event less than $50,000.

     History: En. Sec. 8, Ch. 97, L. 1969; amd. Sec. 1, Ch. 110, L. 1974; amd. Sec. 338, Ch. 350, L. 1974; R.C.M. 1947, 67-2124(4).