ORS 701.081: 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.