OAR 161-520-0060
Termination or Cancellation of Surety Bond or Letter of Credit

(1)

If the surety bond or letter of credit maintained by an appraisal management company is terminated or cancelled, the appraisal management company shall file a replacement surety bond or letter of credit as soon as practicable or within five days of the cancellation or termination, whichever occurs sooner.

(2)

An appraisal management company that does not file a replacement surety bond or letter of credit under paragraph (1) of this rule shall surrender the appraisal management company’s registration and cease operating as an appraisal management company.

Source: Rule 161-520-0060 — Termination or Cancellation of Surety Bond or Letter of Credit, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=161-520-0060.

Last Updated

Jun. 8, 2021

Rule 161-520-0060’s source at or​.us