77-6-507. Formula for fixing annual rental
77-6-507. Formula for fixing annual rental. (1) In this section: (a) ”animal unit” means one cow, one horse, five sheep, or five goats; (b) ”animal-unit-month carrying capacity” means that amount of natural feed necessary for the complete subsistence of one animal unit for 1 month. (2) The board shall establish the per annum rental rate per section of all […]
77-6-508. Effect of competitive bidding
77-6-508. Effect of competitive bidding. Whenever competitive bidding establishes a rental price higher than the rental price established by the board, the board in leasing the lands shall incorporate in the lease conservation requirements as are considered necessary for the protection of the grass or forage crops. History: En. Sec. 3, Ch. 190, L. 1949; R.C.M. 1947, […]
77-6-502. Grazing leases
77-6-502. Grazing leases. (1) The rental rate for leasing all state grazing lands must attain full market value based upon the appraised animal-unit-month carrying capacity of the land as provided in 77-6-507. (2) If the board raises the rentals for state grazing lands during the term of any leases of grazing land that are not issued as […]
77-6-503. Leases of city lots, town lots, and commercial property
77-6-503. Leases of city lots, town lots, and commercial property. The fair rental value of state-owned town lots, city lots, and land valuable for commercial development must be determined from time to time by the department with the approval of the board, and a record must be made of the values. State-owned town lots, city lots, […]
77-6-504. Lease rentals for part year
77-6-504. Lease rentals for part year. Lease rentals for agricultural or grazing state land, where the lease term begins after February 28 in the initial year of the lease, shall be for the whole of the yearly rate for the fractional part of the initial year if the lease term begins prior to July 1 in […]
77-6-505. No reduction for summer fallow
77-6-505. No reduction for summer fallow. No credit or reduction or refund in rental shall be allowed any lessee of agricultural or grazing state land on account of summer fallow. History: En. Sec. 8, Ch. 207, L. 1945; R.C.M. 1947, 81-411.
77-6-506. Date when rental due — penalty — cancellation for nonpayment
77-6-506. Date when rental due — penalty — cancellation for nonpayment. (1) For a grazing lease, for the grazing portion of a lease containing both agricultural and grazing land, and for agricultural leases not based on a crop share, the grazing rental for the first year of the lease must be paid at or before the […]
77-6-401. Pledge or mortgage of leasehold interest in state lands
77-6-401. Pledge or mortgage of leasehold interest in state lands. Any lessee of a grazing or agricultural lease of state lands is authorized to pledge the lease or mortgage the leasehold interest in the lands. History: En. Sec. 1, Ch. 52, L. 1947; R.C.M. 1947, 81-425; amd. Sec. 2570, Ch. 56, L. 2009.
77-6-402. Filing with department required
77-6-402. Filing with department required. The pledgee of such lease or the mortgagee of such leasehold interest shall, within 30 days after receipt of the pledge agreement or mortgage, file it or a certified copy thereof with the department. History: En. Sec. 2, Ch. 52, L. 1947; amd. Sec. 21, Ch. 121, L. 1965; amd. Sec. 4, […]
77-6-403. Transfer of lease
77-6-403. Transfer of lease. (1) Except as provided in subsection (2), upon due proof that a person has acquired through foreclosure or conveyance the pledgor’s or mortgagor’s leasehold interest, the board shall transfer the lease to that person, who is subject to all the conditions, obligations, and liabilities and entitled to all the rights and privileges […]