701.084 Commercial contractors; bond; insurance; responsible managing individual; key employees
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/or/ors-chapter-701/construction-contractors-and-contracts/licensing/701-084·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
701.084 Commercial contractors; bond; insurance; responsible managing individual; key employees.
(1)A commercial general contractor level 1 shall:
(a)Obtain a surety bond under ORS 701.068 in the amount of $80,000;
(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 $55,000;
(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 $25,000;
(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 $25,000;
(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 $25,000; and
(b)Obtain general liability insurance under ORS 701.073 in an amount not less than $500,000. [2007 c.836 §4; 2008 c.5 §1; 2023 c.254 §2]