Oregon Administrative Rules
Chapter 808 - LANDSCAPE CONTRACTORS BOARD
Division 3 - LICENSES
Section 808-003-0616 - Restoration of Bond, Letter of Credit or Cash Deposit after Payment on Claim

Universal Citation: OR Admin Rules 808-003-0616

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

If a surety company or financial institution pays all or part of a claim against a licensed landscape contracting business, the agency must suspend or refuse to issue or reissue the landscape contracting business license until the landscape contracting business submits to the agency:

(1) A properly executed bond, letter of credit or cash deposit in the amount required under ORS 671.690 and OAR 808-003-0613; or

(2) A certificate from the landscape contracting businesses surety company or financial institution that the surety company or financial institution remains liable for the full original penal sum of the bond, letter of credit or cash deposit, notwithstanding the payment from the surety bond letter of credit or cash deposit.

Statutory/Other Authority: ORS 670.310 & 671.670

Statutes/Other Implemented: ORS 671.690

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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