(1) Proof of financial responsibility may be furnished by filing with the department
the bond of a surety company authorized to transact business in the state or a bond
with at least two individual sureties each owning real estate within this state and
together having equities equal in value to at least twice the amount of the bond. The real estate must be scheduled in the bond approved by a judge of a court of
record. The bond must be conditioned for payments in amounts and under the same circumstances
that would be required in a motor vehicle liability policy and may not be cancelable
except after 10 days' written notice to the department. Upon the filing of notice to this effect by the department in the office of the
county clerk and recorder of the county in which the real estate is located, the bond
constitutes a lien in favor of the state upon the scheduled real estate of any surety. The lien exists in favor of any holder of a judgment against the person who has
filed the bond.
(2) The person in whose favor the lien exists may, for the person's own use and benefit
and at the person's sole expense, bring an action or actions in the name of the state
against the company or persons executing the bond, including an action or proceeding
to foreclose any lien that may exist upon the real estate of any person who has executed
the bond. The provisions of the Montana Rules of Civil Procedure, except to the extent that
they are inconsistent with the provisions of this part, are applicable to and constitute
the rules of practice in the foreclosure actions or proceedings. The provisions of the Montana Rules of Civil Procedure relative to new trials and
appeals, except to the extent that they are inconsistent with the provisions of this
part, apply to the actions or proceedings.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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