Oregon Administrative Rules
Chapter 161 - APPRAISER CERTIFICATION AND LICENSURE BOARD
Division 520 - REGISTRATION REQUIREMENTS
Section 161-520-0060 - Termination or Cancellation of Surety Bond or Letter of Credit

Universal Citation: OR Admin Rules 161-520-0060

Current through Register Vol. 63, No. 9, September 1, 2024

(1) If the surety bond or letter of credit maintained by an appraisal management company is terminated or cancelled, the appraisal management company shall file a replacement surety bond or letter of credit as soon as practicable or within five days of the cancellation or termination, whichever occurs sooner.

(2) An appraisal management company that does not file a replacement surety bond or letter of credit under paragraph (1) of this rule shall surrender the appraisal management company's registration and cease operating as an appraisal management company.

Stat. Auth.: ORS 183.355, 674.305 & 674.310

Stats. Implemented: ORS 674.305(7), 674.310(2), 674.205, 674.215, 674.230, 674.245 & 674.250

Disclaimer: These regulations may not be the most recent version. Oregon may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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