Any person authorized by a commodity commission to receive or disburse moneys as provided in ORS § 576.375 shall file with the commission a fidelity bond executed by a surety company authorized to do business in this state or an irrevocable letter of credit issued by an insured institution, as defined in ORS § 706.008. The bond or letter of credit must be in favor of the commission and the State of Oregon, in an amount equal to the maximum amount of moneys the commission determines the person will have subject to control at any one time and upon such conditions as the commission shall prescribe. The commission shall pay the cost of the bond or letter of credit. [1953 c.489 § 23; 1957 c.447 § 20; 1959 c.596 § 19; 1991 c.331 § 86; 1997 c.631 § 499; 2005 c.22 § 402]

[1957 c.447 § 15; repealed by 1959 c.596 § 90]

[1959 c.596 § 73; repealed by 2003 c.604 § 10 (576.392 enacted in lieu of 576.391)]