(1) Any owner or operator who is sued for damages resulting from a release shall notify the board within one week of being served with a summons and complaint. The owner or operator shall also advise the board if any insurer is defending him, and the name of such insurer.

(2) Any owner or operator who, prior to litigation, enters into negotiations with a third party who claims to have been damaged by a release, or who receives a demand for payment of damages to a third party who claims to have been damaged by a release, shall notify the board of such demand or negotiations.

(3) The board may review the conduct of any such litigation or negotiation. The board will not assume any legal costs incurred by the defendant but may participate in discovery or trial proceedings or settlement negotiations which bear on the determination of a plaintiff's damages. If the parties wish to employ a judge pro tempore under the provisions of 3-5-113 , MCA, and consult with the board in the selection process, the board will consider participating in the compensation of the judge pro tempore.

(4) The board may review any settlement negotiations for the purpose of determining the dollar amount of bodily injury or property damages actually, necessarily, and reasonably incurred by third parties which, if paid by the defendant, would be considered eligible costs.