Permits issued under ORS § 460.330 are valid until the amusement ride or device is materially rebuilt or materially modified so as to change the original action of the said amusement ride or device, but in no case for longer than one year after the date of issuance as follows:

(1) If an amusement ride or device is altered so as to change the original action of the said amusement ride or device, such amusement ride or device shall be subject to a new inspection and shall apply for a new permit under ORS § 460.330.

(2) If an amusement ride or device is moved and installed in another place but is not altered so as to change the original action of the said amusement ride or device, no new permit shall be required; provided, however, a permit has been issued previously under ORS § 460.330 and has not been operative for longer than a one-year period. [1959 c.619 § 5; 1985 c.705 § 4; 1993 c.164 § 4]