ORS 701.084: 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.