ORS 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 (Bonding requirements) in the amount of $75,000;(b)
Obtain general liability insurance under ORS 701.073 (Insurance required of licensed contractors) in an amount of not less than $2 million;(c)
Have a responsible managing individual who meets the requirements of ORS 701.091 (Responsible managing individual); and(d)
Have one or more key employees with a combined total of at least eight years of experience described in ORS 701.050 (Commercial contractor key employees).(2)
A commercial specialty contractor level 1 shall:(a)
Obtain a surety bond under ORS 701.068 (Bonding requirements) in the amount of $50,000;(b)
Obtain general liability insurance under ORS 701.073 (Insurance required of licensed contractors) in an amount not less than $1 million;(c)
Have a responsible managing individual who meets the requirements of ORS 701.091 (Responsible managing individual); and(d)
Have one or more key employees with a combined total of at least eight years of experience described in ORS 701.050 (Commercial contractor key employees).(3)
A commercial general contractor level 2 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 $1 million;(c)
Have a responsible managing individual who meets the requirements of ORS 701.091 (Responsible managing individual); and(d)
Have one or more key employees with a combined total of at least four years of experience described in ORS 701.050 (Commercial contractor key employees).(4)
A commercial specialty contractor level 2 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 not less than $500,000;(c)
Have a responsible managing individual who meets the requirements of ORS 701.091 (Responsible managing individual); and(d)
Have one or more key employees with a combined total of at least four years of experience described in ORS 701.050 (Commercial contractor key employees).(5)
A commercial 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. [2007 c.836 §4; 2008 c.5 §1]
Source:
Section 701.084 — Commercial contractors; bond; insurance; responsible managing individual; key employees, https://www.oregonlegislature.gov/bills_laws/ors/ors701.html.
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