Oregon Revised Statutes Chapter 323 § 323.120 — Form
Oregon Revised Statutes Chapter 323 ·
Oregon Code § 323.120·Enacted ·Last updated March 01, 2026
Statute Text
Form
of security.
In
lieu of a bond or bonds a distributor, under such conditions as the Department
of Revenue may prescribe, may deposit with the State Treasurer an amount of
lawful money equivalent to the amount of the bond or bonds otherwise required,
or the distributor may deposit an irrevocable letter of credit issued by an
insured institution, as defined in ORS 706.008, or readily salable bonds or
other obligations of the United States, the State of Oregon, or any county of
this state of an actual market value of not less than the amount of the bond or
bonds otherwise required by ORS 323.005 to 323.482. The State Treasurer shall
immediately notify the department as to the time of receipt and the amount of
money or value of the irrevocable letter of credit or of bonds received by the
State Treasurer. [1965 c.525 §37; 1991 c.331 §54; 1997 c.631 §459]
Plain English Explanation
This Oregon statute addresses Form
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 323.120
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
This section of Oregon law addresses Form
. Read the full statute text above for details.
This page reflects the current text as of our last update. Always verify with the official Oregon legislature website for the most current version.
The formal citation is Oregon Code § 323.120. Use this format in legal documents and court filings.
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