2015 Oregon Revised Statutes
Volume : 15 - Occupations
Chapter 701 - Construction Contractors and Contracts
Section 701.081 - Residential contractors; bond; insurance; responsible managing individual.

(1) A residential general contractor shall:

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

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

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

(2) A residential specialty contractor shall:

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

(b) Obtain general liability insurance under ORS 701.073 in an amount not less than $300,000; and

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

(3) A residential limited contractor shall:

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

(b) Obtain general liability insurance under ORS 701.073 in an amount not less than $100,000; and

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

(4) A residential developer shall:

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

(b) Obtain general liability insurance under ORS 701.073 in an amount not less than $500,000.

(5) A residential locksmith services contractor shall:

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

(b) Obtain general liability insurance under ORS 701.073 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.

(6) A home inspector services contractor shall:

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

(b) Obtain general liability insurance under ORS 701.073 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.

(7) A home services contractor shall:

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

(b) Obtain general liability insurance under ORS 701.073 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 in the amount of $10,000;

(b) Obtain general liability insurance under ORS 701.073 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 in the amount of $10,000; and

(b) Obtain general liability insurance under ORS 701.073 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]