1. (1) Section 80-4-422 MCA provides that: "title to all agricultural commodities sold by credit sale contract is in the purchaser as of the time the contract is executed unless the contract provides otherwise."

2. (2) All credit sale contracts which do not provide that title remains with the seller until time of payment shall have the following warning on the face of the contract and in boldface type:

   "NOTICE: FINANCIAL RISK STATEMENT:

   IN THE EVENT OF FINANCIAL INSOLVENCY, AMOUNTS OWING

   AFTER SURETY BOND PAYMENT, MAY RESULT IN AN UNSECURED OBLIGATION. THE SELLER IS HEREBY ADVISED OF THE FINANCIAL RISK INVOLVED WITH THIS TYPE OF CONTRACT."

Authorizing statute(s): 80-4-422 MCA

Implementing statute(s): Sec. 80-4-422 MCA

History: NEW, 1991 MAR p. 1828, Eff. 9/27/91.