Requirement to maintain bond
- • bond payable upon failure to pay tax
(1) Except as provided in subsection (2) of this section, the Oregon Liquor Control Commission may require a person that holds a license under ORS 475B.110 (Retail license) to maintain on file with the commission a bond with a corporate surety authorized to transact business in this state. The bond shall be in a form acceptable to the commission and shall be in an amount that the commission determines is reasonably affordable and available. The bond is payable to the commission if the licensee fails to pay any tax imposed on the sale of marijuana items as required by state law.
(2) In lieu of maintaining the bond required by subsection (1) of this section, a person that holds a license under ORS 475B.110 (Retail license) may deposit in a bank or trust company for the benefit of the commission an equivalent amount in cash, letters of credit recognized by the State Treasurer or negotiable securities of a character approved by the State Treasurer. Interest earned on deposited funds or securities shall accrue to the person that made the deposit. [2015 c.614 §21; 2015 c.736 §119]
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.