Surety bond, letter of credit or other security
(1) An applicant for a license as a landscape contracting business shall file with the State Landscape Contractors Board a surety bond with one or more corporate sureties authorized to do business in this state, or an irrevocable letter of credit issued by an insured institution, as defined in ORS 706.008 (Additional definitions for Bank Act). The amount of the bond or letter of credit shall be:
(a) $3,000 for an applicant, unless the applicant is described in paragraph (b), (c) or (d) of this subsection.
(b) $10,000 for an applicant who, not in conjunction with the performance of landscaping work, constructs fences, decks, arbors, patios, landscape edging, driveways, walkways or retaining walls, unless the applicant is made subject to paragraph (d) of this subsection by work on other jobs performed by the applicant.
(c) $10,000 for an applicant who charges more than $10,000, but less than $25,000, for a landscape job.
(d) $15,000 for an applicant who charges $25,000 or more for a landscape job.
(2) The bond or letter of credit required under subsection (1) of this section shall be conditioned that the applicant pays:
(a) All taxes and contributions due to the State of Oregon;
(b) All persons furnishing labor or material, or renting or supplying equipment to the landscape contracting business;
(c) All amounts that may be adjudged against the landscape contracting business by reason of negligent or improper work or breach of contract in performing any work subject to ORS 671.510 (Short title) to 671.760 (Business income tax); and
(d) All amounts from the bond, letter of credit or deposit the board orders paid under ORS 671.703 (Investigation of claim).
(3) In lieu of the surety bond or letter of credit required under subsection (1) of this section, the landscape contracting business may file with the board, under the same terms and conditions as when a bond is filed, a deposit in cash or negotiable securities acceptable to the board.
(4) The bond, letter of credit or deposit required by this section must be continuously on file with the board in the amount required by this section and is for the exclusive purpose of payment of final orders and arbitration awards in accordance with ORS 671.703 (Investigation of claim). Upon termination or cancellation of the bond, withdrawal of the deposit or reduction of the bond, letter of credit or deposit to less than the required amount, the licensee shall immediately:
(a) File a replacement bond, letter of credit or deposit; or
(b) Surrender the license to the board and cease operating as a landscape contracting business.
(5) If the cost of a project makes, or foreseeably will make, a licensee subject to a higher bond or letter of credit requirement under subsection (1) of this section, the licensee shall immediately file additional bonds, letters of credit or deposits to meet the higher requirements.
(6) The landscape contracting business is responsible for all work that is subject to ORS 671.510 (Short title) to 671.760 (Business income tax). [1973 c.832 §29b; 1979 c.840 §6; 1983 c.452 §15; 1991 c.331 §103; 1995 c.645 §3; 1997 c.631 §520; 1999 c.32 §3; 2001 c.198 §2; 2005 c.609 §18; 2007 c.149 §5; 2007 c.541 §35]
3 OregonLaws.org assembles these lists by analyzing references between Sections. Each listed item refers back to the current Section in its own text. The result reveals relationships in the code that may not have otherwise been apparent.