The Department of Transportation may require a dealer to give a new or additional surety bond or to deposit additional securities of the character specified in ORS 319.060 if, in its opinion, the security of the surety bond theretofore filed by the dealer, or the market value of the properties deposited as security by the dealer, becomes impaired or inadequate. Upon failure of the dealer to give the new or additional surety bond or to deposit additional securities within 10 days after being requested so to do by the department, the department forthwith shall cancel the license of the dealer.
Section: Previous 319.042 319.050 319.051 319.052 319.053 319.060 319.070 319.080 319.090 319.096 319.098 319.100 319.102 319.110 319.120 NextLast modified: August 7, 2008