Construction Contractors and Contracts

ORS 701.081
Residential contractors

  • bond
  • insurance
  • responsible managing individual


(1)

A residential general contractor shall:

(a)

Obtain a surety bond under ORS 701.068 (Bonding requirements) in the amount of $20,000;

(b)

Obtain general liability insurance under ORS 701.073 (Insurance required of licensed contractors) in an amount of not less than $500,000; and

(c)

Have a responsible managing individual who meets the requirements of ORS 701.091 (Responsible managing individual).

(2)

A residential specialty contractor shall:

(a)

Obtain a surety bond under ORS 701.068 (Bonding requirements) in the amount of $15,000;

(b)

Obtain general liability insurance under ORS 701.073 (Insurance required of licensed contractors) in an amount not less than $300,000; and

(c)

Have a responsible managing individual who meets the requirements of ORS 701.091 (Responsible managing individual).

(3)

A residential limited contractor shall:

(a)

Obtain a surety bond under ORS 701.068 (Bonding requirements) in the amount of $10,000;

(b)

Obtain general liability insurance under ORS 701.073 (Insurance required of licensed contractors) in an amount not less than $100,000; and

(c)

Have a responsible managing individual who meets the requirements of ORS 701.091 (Responsible managing individual).

(4)

A residential developer shall:

(a)

Obtain a surety bond under ORS 701.068 (Bonding requirements) in the amount of $20,000; and

(b)

Obtain general liability insurance under ORS 701.073 (Insurance required of licensed contractors) in an amount not less than $500,000.

(5)

A residential locksmith services contractor shall:

(a)

Obtain a surety bond under ORS 701.068 (Bonding requirements) in the amount of $10,000;

(b)

Obtain general liability insurance under ORS 701.073 (Insurance required of licensed contractors) in an amount of not less than $100,000; and

(c)

Have a responsible managing individual for the business who is certified as a locksmith under ORS 701.485 (Standards of practice and professional conduct).

(6)

A home inspector services contractor shall:

(a)

Obtain a surety bond under ORS 701.068 (Bonding requirements) in the amount of $10,000;

(b)

Obtain general liability insurance under ORS 701.073 (Insurance required of licensed contractors) in an amount of not less than $100,000; and

(c)

Have a responsible managing individual for the business who is certified as a home inspector under ORS 701.445 (Home inspectors).

(7)

A home services contractor shall:

(a)

Obtain a surety bond under ORS 701.068 (Bonding requirements) in the amount of $10,000; and

(b)

Obtain general liability insurance under ORS 701.073 (Insurance required of licensed contractors) in an amount of not less than $100,000.

(8)

A home energy performance score contractor shall:

(a)

Obtain a surety bond under ORS 701.068 (Bonding requirements) in the amount of $10,000;

(b)

Obtain general liability insurance under ORS 701.073 (Insurance required of licensed contractors) in an amount of not less than $100,000; and

(c)

Have an owner or employee that is certified by the board as a home energy assessor.

(9)

A residential restoration contractor shall:

(a)

Obtain a surety bond under ORS 701.068 (Bonding requirements) in the amount of $10,000; and

(b)

Obtain general liability insurance under ORS 701.073 (Insurance required of licensed contractors) in an amount of not less than $100,000. [2007 c.836 §3; 2013 c.300 §9; 2013 c.383 §11; 2015 c.498 §6]
Chapter 701

Notes of Decisions

This is a remedial statute made for the protection of the building business and of people dealing with builders who might be irresponsible; it should be read as a whole and liberally construed to accomplish its purpose. Robinson v. Builders Bd., 20 Or App 340, 531 P2d 752 (1975)

Atty. Gen. Opinions

Lack of authority for director to appoint executive secretary for board, (1971) Vol 35, p 930; inapplicability of this chapter to business of construction or installation of fences, sidewalks, septic tanks, wells and underground sprinkling systems, (1972) Vol 35, p 1278; mobile home as personal or real property under this chapter, (1972) Vol 36, p 41; application of Homebuilders Law to mobile homes, (1978) Vol 38, p 693


Source

Last accessed
Jun. 26, 2021