Amount of bond when twice license tax is less than $1,000
If the amount that is equivalent to twice the amount of a dealer’s estimated monthly license tax, as determined by the Department of Transportation, is an amount that is less than $1,000, the bond amount required by ORS 319.050 (Performance bond), 319.051 (Conditions for reduced bond amount) or 319.052 (Conditions for increased bond amount) shall be $1,000. [2003 c.52 §5]
Note: See note under 319.051 (Conditions for reduced bond amount).
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