OAR 812-003-0155
Letters of Credit or Cash Deposits, Generally

(1)

A general or specialty contractor that is a qualifying nonprofit organization engaged in rehabilitating an illegal drug manufacturing site may provide a properly executed letter of credit as adopted by the Construction Contractors Board in the form entitled “Letter of Credit for Licensee Rehabilitating Illegal Drug Manufacturing Site” dated December 18, 2007.

(2)

A general or specialty contractor that is a qualifying nonprofit organization engaged in rehabilitating an illegal drug manufacturing site may provide a properly executed cash deposit as adopted by the Construction Contractors Board in the form entitled “Assignment of Savings Account or Certificate of Deposit for Licensee Rehabilitating Illegal Drug Manufacturing Site,” dated December 18, 2007.

(3)

If a complaint is filed against a licensee for work done during the work period of a contract entered while the letter of credit or cash deposit is in effect, the agency shall provide notice to the bank or financial institution that issued the letter of credit or cash deposit. The bank or financial institution must hold the letter of credit or cash deposit until final disposition of the complaint.

(4)

Letters of credit or cash assignment documents received at the agency office from a bank or financial institution via electronic facsimile may be accepted as original documents. The bank or financial institution must provide the original documents to the agency upon request.

(5)

References in other provisions of Chapter 812 to letters of credit or cash deposits apply only to licenses issued under ORS 701.088 (Contractor rehabilitating illegal drug manufacturing site) and this section.

Source: Rule 812-003-0155 — Letters of Credit or Cash Deposits, Generally, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=812-003-0155.

812‑003‑0100
Licensing Generally 812‑003‑0110
Standards of Behavior 812‑003‑0120
License Required to Advertise 812‑003‑0131
License Endorsements 812‑003‑0142
License Application Fees 812‑003‑0152
Residential Bonds Generally 812‑003‑0153
Commercial Bonds Generally 812‑003‑0154
Construction Flagger Bonds 812‑003‑0155
Letters of Credit or Cash Deposits, Generally 812‑003‑0160
Entity Name Required on Bond, Letter of Credit or Cash Deposit 812‑003‑0171
Bond, Letter of Credit or Cash Deposit 812‑003‑0175
Increased Bond, Letter of Credit or Cash Deposit Requirement, Past Unresolved Activity 812‑003‑0180
Effective and Cancellation Dates of the Bond, Letter of Credit or Cash Deposit 812‑003‑0190
New Bond, Letter of Credit or Cash Deposit Required for Change in Entity 812‑003‑0200
Insurance Generally 812‑003‑0210
Entity Name Required on Insurance Certification 812‑003‑0221
Insurance Amounts 812‑003‑0230
Effective and Cancellation Dates of the Insurance 812‑003‑0240
Independent Contractor 812‑003‑0250
Exempt and Nonexempt Class of Independent Contractor Licenses 812‑003‑0260
Application for New License 812‑003‑0265
Temporary Authorization for Military Spouse - Contractor 812‑003‑0270
Effective Dates of New License 812‑003‑0280
Renewal and Reissue of License 812‑003‑0290
License Renewal, Reissue, New Issue 812‑003‑0300
Consequence of Lapse in License 812‑003‑0310
License Cards 812‑003‑0320
Record Changes 812‑003‑0321
Notification of Change of Independent Contractor Status 812‑003‑0325
Change of Corporate Officer, LLC Manager, LLC Member, Trustee 812‑003‑0330
Inactive Status Generally 812‑003‑0340
Inactive Status Request at Renewal 812‑003‑0350
Inactive Status Request at Interim Renewal Period 812‑003‑0360
Inactive Status Request after Lapse 812‑003‑0370
Renewal of Inactive Status 812‑003‑0380
Converting From Inactive Back to Active Status 812‑003‑0390
Revocation or Suspension of License 812‑003‑0400
Restoration of Bond, Letter of Credit or Cash Deposit after Payment on Complaint 812‑003‑0410
Social Security Number 812‑003‑0420
Davis Bacon Act 812‑003‑0430
Time Period for Perfecting a Lien or Complaint 812‑003‑0440
Notification of Conviction of a Crime
Last Updated

Jun. 8, 2021

Rule 812-003-0155’s source at or​.us