There Is a Newer Version of the Oregon Revised Statutes
  1. 2025 Oregon Rev. Stat.
  2. 2023 Oregon Rev. Stat.
  3. 2021 Oregon Rev. Stat.
  4. 2011 Oregon Rev. Stat. (here)
  5. View All Versions
View Our Newest Version Here

2011 Oregon Revised Statutes
ORS Volume 13, Chapters 536 - 644
ORS Chapter 585
585.045 Bond or letter of credit required for wholesale produce dealer.

Universal Citation:
OR Rev Stat § 585.045 (through Leg Sess 2011)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

(1) Before any original license or renewal license to operate as a wholesale produce dealer is furnished, the applicant shall make and deliver to the State Department of Agriculture a surety bond of a company authorized to do business in this state, or an irrevocable letter of credit issued by an insured institution, as defined in ORS 706.008, in the amount of $15,000. The department shall prescribe the form for and approve the bond, which shall be payable to this state for the benefit of growers and conditioned upon the faithful performance of all obligations to growers by the wholesale produce dealer.

(2) The surety company may cancel the bond or the letter of credit issuer may cancel the letter of credit by sending a written notice by registered or certified mail to the department and to the wholesale produce dealer. The effective date of the cancellation is 60 days after the notice is received by the department.

(3) The department shall suspend the license of any wholesale produce dealer as of the effective date of the cancellation of the bond or letter of credit of the dealer. The department shall withdraw such suspension of license upon its receiving a bond or letter of credit as authorized by subsection (1) of this section.

(4) A cash buyer is not required to furnish a bond or letter of credit to the department.

(5) Notwithstanding subsection (1) of this section, a person is required to make and deliver only one bond or letter of credit for any business operated under one entity or one ownership, regardless of the number of separate locations or places of business in this state. [1959 c.431 6,8; 1961 c.282 1; 1985 c.426 1; 1991 c.331 89; 1997 c.631 503]

Disclaimer: These codes may not be the most recent version. Oregon may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.