Oregon Revised Statutes Chapter 701 § 701.081 — Residential

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 $25,000; (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 $20,000; (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 $15,000; (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 $25,000; 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 $15,000; (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 $15,000; (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 $15,000; 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 $15,000; (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 $15,000; 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; 2023 c.254 §1]