Oregon Administrative Rules
Chapter 471 - EMPLOYMENT DEPARTMENT
Division 70 - Paid Family Medical Leave Insurance
Section 471-070-3320 - Contributions: Deposit, Bond, or Letter of Credit

Universal Citation: OR Admin Rules 471-070-3320

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

(1) For the purposes of ORS 657B.190, the director or an authorized representative may require a deposit, bond or an irrevocable letter of credit issued by an insured institution, as defined in ORS 706.008, when the director or an authorized representative finds it necessary for the protection of the Paid Family and Medical Leave Insurance (PFMLI) Fund established under ORS 657B.430.

(2) The determination that a deposit, bond or irrevocable letter of credit is necessary is in the director or an authorized representative's sole discretion. Circumstances that will require a deposit, bond or irrevocable letter of credit include, but are not limited to, circumstances where an employer who currently employs employees subject to ORS chapter 657B:

(a) Is currently delinquent in filing PFMLI reports or payment of PFMLI contributions; or

(b) Was previously delinquent in filing PFMLI reports or payment of PFMLI contributions.

Statutory/Other Authority: ORS 657B.340

Statutes/Other Implemented: ORS 657B.190 & 657B.430

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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