Senate Bill No. 50
Introduced By keating
A Bill for an Act entitled: An Act allowing the lessee of an oil, gas, or other mineral lease to make in a single request for recordation the assignment or release of more than one lease; requiring that a request for the assignment or release of more than one lease be treated as a single request for public recording purposes; and amending section 82-1-201, MCA.
Be it enacted by the Legislature of the State of Montana:
Section 1. Section 82-1-201, MCA, is amended to read:
"82-1-201. Release of record upon forfeiture, cancellation, or expiration of lease -- penalty. (1) When
executed and recorded oil, gas, or other mineral lease heretofore or hereafter executed and recorded is forfeited, canceled,
or expires, it shall be is the duty of the lessee, his the lessee's successor, or assigns, within 60 days from the date of such the
forfeiture, cancellation, or expiration of any and all leases the lease, to have such the lease or abstract of such the lease
released from record in the county where the leased land is situated without cost to the owner thereof lessor.
(2) A lessee may request the recordation of an assignment or release of more than one lease in a single instrument, and an instrument involving more than one lease made under this subsection must be treated for public recording purposes as a single request from the lessee.
(2)(3) A lessee who fails to comply with subsection (1) within 30 days of written notice from the lessor is guilty of a
misdemeanor punishable by a fine of up to $250."