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Current as of January 01, 2023 | Updated by Findlaw Staff
(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 eight 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 four 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.
Cite this article: FindLaw.com - Oregon Revised Statutes Occupations and Professions § 701.084 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-52-occupations-and-professions/or-rev-st-sect-701-084/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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