Oregon Revised Statutes Chapter 33 § 33.530 — Liability of sureties or letter of credit issuer after termination of bond or
Oregon Revised Statutes Chapter 33 ·
Oregon Code § 33.530·Enacted ·Last updated March 01, 2026
Statute Text
Liability of sureties or letter of credit issuer after termination of bond or
letter of credit.
(1) When a bond or an irrevocable letter of credit of any personal
representative, guardian or conservator is terminated upon the issuance of a
new bond or irrevocable letter of credit to the personal representative,
guardian or conservator by a new surety or letter of credit issuer, the former
surety or letter of credit issuer shall not be liable on the old bond or
irrevocable letter of credit for any acts or omissions of the personal
representative, guardian or conservator which occur after the issuance of the
new bond or irrevocable letter of credit.
(2) A new surety
for a personal representative, guardian or conservator who issues a new bond or
irrevocable letter of credit after the termination of a previous bond or
irrevocable letter of credit written by another surety or letter of credit
issuer for a personal representative, guardian or conservator shall not be
liable for any acts or omissions of the personal representative, guardian or
conservator which occurred prior to the issuance of the new bond or irrevocable
letter of credit. [1983 c.613 §§2,3; 1991 c.331 §13]
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Plain English Explanation
This Oregon statute addresses Liability of sureties or letter of credit issuer after termination of bond or
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Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 33.530
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
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