Any person who desires to purchase any timber located on property under the jurisdiction of the state land office, shall file with the register of the state land office, an application to purchase giving the exact location, section, township and range, and the types of timber he desires to purchase. The applicant shall deposit with the register of the state land office, the sum of one hundred dollars as evidence of good faith. Should the applicant, at the sale of timber as provided for in this Part, fail to purchase the timber, then the money so deposited may be returned to him; provided that should no one at the sale bid up to the minimum price stipulated in this Part, then the money shall be retained to pay the expenses of the sale.
La. R.S. § 41:1001