(1) A commercial general contractor level 1 shall:
(a) Obtain a surety bond under ORS 701.068 in the amount of $75,000;
(b) Obtain general liability insurance under ORS 701.073 in an amount of not less than $2 million;
(c) Have a responsible managing individual who meets the requirements of ORS 701.091; and
(d) Have one or more key employees with a combined total of at least eight years of experience described in ORS 701.050.
(2) A commercial specialty contractor level 1 shall:
(a) Obtain a surety bond under ORS 701.068 in the amount of $50,000;
(b) Obtain general liability insurance under ORS 701.073 in an amount not less than $1 million;
(c) Have a responsible managing individual who meets the requirements of ORS 701.091; and
(d) Have one or more key employees with a combined total of at least four years of experience described in ORS 701.050.
(3) A commercial general contractor level 2 shall:
(a) Obtain a surety bond under ORS 701.068 in the amount of $20,000;
(b) Obtain general liability insurance under ORS 701.073 in an amount of not less than $1 million;
(c) Have a responsible managing individual who meets the requirements of ORS 701.091; and
(d) Have one or more key employees with a combined total of at least eight years of experience described in ORS 701.050.
(4) A commercial specialty contractor level 2 shall:
(a) Obtain a surety bond under ORS 701.068 in the amount of $20,000;
(b) Obtain general liability insurance under ORS 701.073 in an amount not less than $500,000;
(c) Have a responsible managing individual who meets the requirements of ORS 701.091; and
(d) Have one or more key employees with a combined total of at least four years of experience described in ORS 701.050.
(5) A commercial developer shall:
(a) Obtain a surety bond under ORS 701.068 in the amount of $20,000; and
(b) Obtain general liability insurance under ORS 701.073 in an amount not less than $500,000. [2007 c.836 §4]
Note: 701.084 becomes operative July 1, 2008, and applies to licenses issued or renewed on or after July 1, 2008. See section 70, chapter 836, Oregon Laws 2007.
Section: Previous 701.072 701.073 701.075 701.077 701.078 701.080 701.081 701.084 701.085 701.088 701.091 701.094 701.095 701.098 701.100 NextLast modified: August 7, 2008