Oregon Statutes 561.430 – Deposit or bond to secure payment
(1) The State Department of Agriculture may require any person to whom it has furnished or may furnish services or materials on credit to deposit and keep on deposit with the department a sum equal to an amount which the department estimates may be due for services or materials to be rendered for a period of three months.
Terms Used In Oregon Statutes 561.430
- Department: means the State Department of Agriculture. See Oregon Statutes 561.005
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
(2) The department may, in lieu of such deposit, accept a bond to secure payment for services or materials to be furnished. The deposit or posting of the bond shall not relieve the person from making payments as required by law or by ORS § 561.410.
(3) If such person files a written statement with the department that services or materials of the department are no longer required, the department, upon receipt of all payments due, shall refund to the person all deposits remaining to the person’s credit and shall cancel any bond given under this section. [1959 c.229 § 5]
[1959 c.229 § 4; repealed by 1961 c.425 § 20]