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Current as of January 01, 2024 | Updated by Findlaw Staff
(1) A wind option agreement executed after April 21, 2011, must contain but is not limited to:
(a) the names and addresses of the parties to the wind option agreement;
(b) a legal description of the real property subject to the wind option agreement;
(c) the specified term beyond which the wind option agreement terminates and the real property is released from the obligations outlined in the wind option agreement;
(d) compensation for the owner of the real property on and over which the wind resource flows; and
(e) other terms and conditions agreed upon by the owner of the real property and the wind energy developer.
(2) A wind option agreement must be notarized.
(3) A wind option agreement may not exceed 20 years unless extended by agreement of the parties.
Cite this article: FindLaw.com - Montana Title 70. Property § 70-17-405. Wind option agreements--contents and requirements--notarization - last updated January 01, 2024 | https://codes.findlaw.com/mt/title-70-property/mt-st-70-17-405/
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 before relying on it for your legal needs.
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