Construction Contractors and Contracts

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]
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