ARM 36.25.806. REQUIREMENTS FOR LAND BANKING EARNEST MONEY DEPOSIT

(1) the lessee who nominated the parcel shall submit earnest money in the sum of $1,000 within 30 days of receiving notice from the department that the parcel is available for sale. (2) If the lessee does not submit earnest money within 30 days of notice of availability for sale, the department shall remove the parcel from nomination unless conominated by the board or the department. (3) Board- and department-nominated parcels do not require $1,000 earnest money.