In lieu of the security deposit equal to the value of all timber covered by the permit required by section 90.161, a purchaser of state timber may elect in a format prescribed by the commissioner to give good and valid surety to the state of Minnesota equal to the purchase price for any designated cutting block identified on the permit before the date the purchaser enters upon the land to begin harvesting the timber on the designated cutting block.
History:1991 c 61 s 1; 2000 c 485 s 8; 2002 c 351 s 5; 2013 c 114 art 4 s 48; 2017 c 93 art 2 s 53