Oregon Revised Statutes Chapter 701 § 701.084 — Commercial contractors; bond; insurance; responsible managing individual; key

Commercial contractors; bond; insurance; responsible managing individual; key employees. (1) A commercial general contractor level 1 shall: (a) Obtain a surety bond under ORS 701.068 in the amount of $80,000; (b) Obtain general liability insurance under ORS 701.073 in an amount of not less than $2 million; (c) Have a responsible managing individual who meets the requirements of ORS 701.091; and (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: (a) Obtain a surety bond under ORS 701.068 in the amount of $55,000; (b) Obtain general liability insurance under ORS 701.073 in an amount not less than $1 million; (c) Have a responsible managing individual who meets the requirements of ORS 701.091; and (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: (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 $1 million; (c) Have a responsible managing individual who meets the requirements of ORS 701.091; and (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: (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 not less than $500,000; (c) Have a responsible managing individual who meets the requirements of ORS 701.091; and (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: (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. [2007 c.836 §4; 2008 c.5 §1; 2023 c.254 §2]