Montana Code 23-1-109. Establishment of Montana agricultural center and museum of the Northern Great Plains
23-1-109. Establishment of Montana agricultural center and museum of the Northern Great Plains. There is a Montana agricultural center and museum of the Northern Great Plains located in Fort Benton. The department of fish, wildlife, and parks shall acquire the center and museum, but the department may lease the facility to a qualified local government entity or nonprofit corporation or transfer ownership of the facility to a qualified local government entity for less than fair market value for so long as the local government entity or nonprofit corporation, as applicable, provides for development, operation, and maintenance of the center and museum without cost to the state of Montana. As part of any transfer of ownership of the facility, the department of fish, wildlife, and parks retains the right to reclaim ownership of the property at no cost to the state if the property ceases to be used as an agricultural center and museum for more than 1 year.
Terms Used In Montana Code 23-1-109
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Property: means real and personal property. See Montana Code 1-1-205
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201