Or. Admin. Code § 808-003-0611

Current through Register Vol. 63, No. 11, November 1, 2024

Section 808-003-0611 - Letters of Credit or Deposits, Generally

(1) A properly executed Landscape Contracting Business Assignment of Savings or Deposit must:

(a) Be in the form required by the agency as the Landscape Contracting Business Assignment of Savings Account or Deposit.

(b) Be signed by an owner or officer of the landscape contracting business;

(c) Be signed by an authorized agent of the bank or financial institution or by one having power of attorney and must bear an account number. Additionally, the agency may require the licensee and bank or financial institution to use the most recent revision of the Assignment of Savings Account or Deposit form; and

(2) Letters of credit or cash assignment documents received at the agency office from a bank or financial institution via electronic facsimile or as a PDF file transmitted by e-mail or electronically may be accepted as original documents. The bank or financial institution must provide the original documents to the agency upon request.

(3) Letters of credit or cash assignment documents must be renewed every year upon renewal of the landscape contracting business license.

Or. Admin. Code § 808-003-0611

LCB 7-2009, f. & cert. ef. 10-28-09; LCB 9-2015, f. 12-22-15, cert. ef. 1/1/2016

Stat. Auth.: ORS 670.310 & 671.670

Stats. Implemented: ORS 671.690