77-2-323. Sale procedure and limitation. (1) At the time fixed for the sale, the lands must be offered for sale at auction in the order that they appear in the notice of sale. Under the direction of the department, the lands must be sold to the highest qualified bidder under the following restrictions:
     (a) Lands may not be sold for less than the value determined by the board after appraisal by a qualified land appraiser.
     (b) Tillable lands capable of producing agricultural crops may not be sold for less than $10 an acre.
     (c) Lands principally valuable for grazing purposes may not be sold for less than $5 an acre.
     (2) The lands must be sold as nearly as practicable according to the subdivisions in which they are advertised, and care must be taken not to subdivide any tract in such a way as to separate remaining portions from a water supply or from section lines or public highways.
     (3) The sale may be adjourned from day to day until all the lands advertised have been offered for sale.
     (4) If any successful bidder at a sale refuses or neglects to make the initial payment required to be made on the land purchased, the successful bidder shall forfeit to the state not less than $50 or more than $1,000, to be determined by the board according to the circumstances of the case. If the forfeiture is not paid when notice of the amount of the forfeiture has been served by the department, the attorney general shall sue for the recovery of the amount in the name of the state. The forfeiture amount must be deposited in the state general fund.

     History: En. Sec. 75, Ch. 60, L. 1927; amd. Sec. 1, Ch. 177, L. 1933; re-en. Sec. 1805.75, R.C.M. 1935; amd. Sec. 5, Ch. 184, L. 1961; amd. Sec. 58, Ch. 428, L. 1973; R.C.M. 1947, 81-912(part); amd. Sec. 4, Ch. 136, L. 1983; amd. Sec. 58, Ch. 422, L. 1997.