Section 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.Amended by 2023 Ch. 254,§ 1, eff. 9/24/2023, op. 1/1/2024.Amended by 2015 Ch. 498, § 6, eff. 1/1/2016.Amended by 2013 Ch. 383, § 11, eff. 6/13/2013, op. 7/1/2014.Amended by 2013 Ch. 300, § 9, eff. 1/1/2014.