State of Montana, Abstracters Board of Examiners, Report On Examination 1969
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If the board determines in their opinion that the prescribed fees are not what they should be, we believe the board should seek legislation to have the fees changed . -5- F.ECOyJ-.IIOATION We recommend that the board require payment of all fees prescribed by the state abstracter law. BONDS Section 66-2113, R.C.M. 1947, provides that each applicant for a certificate of authority must file a $5,000 bond with the board to cover any damages that might result from an error, deficiency, or mistake in... an abstract or certificate of title made or issued by such abstracter. It cannot be determined from the board's records that bonds of the required amount exist for each holder of a certificate of authority. Most of the abstracting companies in the state were established several years ago and the original bonds were obtained at that time. These older original bonds have not been filed by the board in any systematic manner. For the most part they are filed in boxes along with the original applications and are not readily avail- able for verification.
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