Oregon Administrative Rules
Chapter 812 - CONSTRUCTION CONTRACTORS BOARD
Division 3 - LICENSING
Section 812-003-0190 - New Bond, Letter of Credit or Cash Deposit Required for Change in Entity
Universal Citation: OR Admin Rules 812-003-0190
Current through Register Vol. 64, No. 3, March 1, 2025
(1) If an entity licenses as a sole proprietorship, partnership, limited liability partnership, limited partnership, joint venture, corporation, limited liability company, business trust or any other entity and seeks to change the licensed entity to one of the other entity types, the application must be accompanied by a new:
(a) Bond separate from the bond held for the
previous entity;
(b) Letter of
credit separate from the letter of credit held for the previous entity; or
(c) Cash deposit separate from the
previous cash deposit held for the previous entity.
(2) Riders to existing bonds changing the type of entity bonded will be construed as a cancellation of the bond and will not be otherwise accepted.
Stat. Auth.: ORS 670.310, 701.068, 701.088 & 701.235
Stats. Implemented: ORS 701.068 & 701.088
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