Washington Code 79.105.330 – Aquatic lands — Security for leases for more than one year
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For any lease for a term of more than one year, the department may require that the rent be secured by insurance, bond, or other security satisfactory to the department in an amount not exceeding two years’ rent. The department may require additional security for other lease provisions. The department shall not require cash deposits exceeding one-twelfth of the annual rental.
[ 1984 c 221 § 16. Formerly RCW 79.90.525.]
Terms Used In Washington Code 79.105.330
- 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