Oregon Administrative Rules
Chapter 177 - OREGON STATE LOTTERY
Division 40 - RETAILER CONTRACT
Section 177-040-0030 - Retailer Cash Deposit or Bond
Universal Citation: OR Admin Rules 177-040-0030
Current through Register Vol. 63, No. 9, September 1, 2024
If the Director has reason to believe an applicant or retailer may not be financially sound, the Director may require a Lottery retailer to post:
(1) Irrevocable Letter of Credit: A $5,000 irrevocable letter of credit issued by a banking institution as defined in ORS 706.008(4); or
(2) Bond: A $5,000 bond issued by a surety company or companies holding a certificate of authority to transact surety business in the State of Oregon and approved by the Director.
Stat. Auth.: OR Const. Art. XV, Sec. 4(4) & ORS 461
Stats. Implemented: ORS 461.300
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