(1) A brand mortgage (lien) covering branded livestock must be filed with the Department of Livestock.

(a) Brand mortgages apply to cattle with Montana brands only.

(b) A brand mortgage may be referred to as a notice of security agreement

or lien on branded livestock.

(2) A fee must be paid to the department by every person filing a brand mortgage, assignment, renewal, or termination for each brand listed.

(3) There are two ways to file a brand mortgage:

(a) all brand owners of the brand sign the brand mortgage papers; or

(b) by Writ of Execution directing the mortgage be placed on the brand to enable the department to comply with a court order.

(4) A notice of continuation (assignment) signed by the new brand owners, and the filing fee must be sent to the department to complete a name change on a brand mortgage.

(5) A notice of termination plus the filing fee must be filed with the department immediately upon satisfaction to terminate a brand mortgage.