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Oregon Revised Statutes Occupations and Professions § 701.150

Current as of January 01, 2023 | Updated by Findlaw Staff

<Text subject to final change by the Oregon Office of the Legislative Counsel.>

(1) If a licensed contractor fails to pay a complainant amounts due under a court judgment or under a final order of the Bureau of Labor and Industries, the Construction Contractors Board shall issue a determination stating the amount that a surety must pay the complainant. The surety shall pay the amount required under the determination as follows:

(a) If the complaint was filed under ORS 701.145, the surety shall pay the amount from a bond required for a residential contractor.

(b) If the complaint was filed under ORS 701.146, the surety shall pay the amount from a bond required for a commercial contractor.

(2) The surety may not pay on a complaint until the surety receives notice from the board that the complaint is ready for payment.

(3) Notwithstanding ORS 701.153 and 701.157, a bond is not subject to payment for a complaint that is filed more than 14 months after the earlier of:

(a) The expiration or cancellation date of the license that was in force when the work that is the subject of the complaint was completed or abandoned; or

(b) The date that the surety canceled the bond.

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Cite this article: FindLaw.com - Oregon Revised Statutes Occupations and Professions § 701.150 - last updated January 01, 2023 | https://codes.findlaw.com/or/title-52-occupations-and-professions/or-rev-st-sect-701-150/

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