Or. Rev. Stat. § 701.084 – Commercial contractors; bond; insurance; responsible managing individual; key employees

(1) A commercial general contractor level 1 shall:
1. (a) Obtain a surety bond under ORS 701.068 in the amount of $80,000;
2. (b) Obtain general liability insurance under ORS 701.073 in an amount of not less than $2 million;
3. (c) Have a responsible managing individual who meets the requirements of ORS 701.091; and
4. (d) Have one or more key employees with a combined total of at least eight years of experience described in ORS 701.050.
(2) A commercial specialty contractor level 1 shall:
1. (a) Obtain a surety bond under ORS 701.068 in the amount of $55,000;
2. (b) Obtain general liability insurance under ORS 701.073 in an amount not less than $1 million;
3. (c) Have a responsible managing individual who meets the requirements of ORS 701.091; and
4. (d) Have one or more key employees with a combined total of at least eight years of experience described in ORS 701.050.
(3) A commercial general contractor level 2 shall:
1. (a) Obtain a surety bond under ORS 701.068 in the amount of $25,000;
2. (b) Obtain general liability insurance under ORS 701.073 in an amount of not less than $1 million;
3. (c) Have a responsible managing individual who meets the requirements of ORS 701.091; and
4. (d) Have one or more key employees with a combined total of at least four years of experience described in ORS 701.050.
(4) A commercial specialty contractor level 2 shall:
1. (a) Obtain a surety bond under ORS 701.068 in the amount of $25,000;
2. (b) Obtain general liability insurance under ORS 701.073 in an amount not less than $500,000;
3. (c) Have a responsible managing individual who meets the requirements of ORS 701.091; and
4. (d) Have one or more key employees with a combined total of at least four years of experience described in ORS 701.050.
(5) A commercial developer shall:
1. (a) Obtain a surety bond under ORS 701.068 in the amount of $25,000; and
2. (b) Obtain general liability insurance under ORS 701.073 in an amount not less than $500,000.

[2007 c.836 §4; 2008 c.5 §1; 2023 c.254 §2]