(1) A residential general contractor 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 $500,000; and
(c) Have a responsible managing individual who meets the requirements of ORS 701.091.
(2) A residential specialty contractor shall:
(a) Obtain a surety bond under ORS 701.068 in the amount of $15,000;
(b) Obtain general liability insurance under ORS 701.073 in an amount not less than $300,000; and
(c) Have a responsible managing individual who meets the requirements of ORS 701.091.
(3) A residential limited contractor shall:
(a) Obtain a surety bond under ORS 701.068 in the amount of $10,000;
(b) Obtain general liability insurance under ORS 701.073 in an amount not less than $100,000; and
(c) Have a responsible managing individual who meets the requirements of ORS 701.091.
(4) A residential 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 §3]
Note: 701.081 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 701.070 701.072 701.073 701.075 701.077 701.078 701.080 701.081 701.084 701.085 701.088 701.091 701.094 701.095 701.098 NextLast modified: August 7, 2008