Oregon Statutes 671.710 – Priority on satisfaction of claims
(1) Determinations by the State Landscape Contractors Board or judgments against the surety bond, letter of credit or deposit of a landscape contracting business for claims filed during a 90-day period shall be satisfied in the priority listed in subsections (2) to (4) of this section. The payment of a claim filed during a 90-day period has priority over any claim filed during a subsequent 90-day period. A 90-day period begins on the date the first claim is filed with the board. A subsequent 90-day period begins on the date the first claim is filed with the board after the close of the preceding 90-day period.
Terms Used In Oregon Statutes 671.710
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
(2) Determinations and judgments as a result of claims filed within a 90-day period against a landscape contracting business by owners of property upon which landscaping work was performed or was contracted to perform, or by the agents of the owner, have payment priority to the full extent of the bond, letter of credit or deposit over all other claims filed within the same 90-day period.
(3) If the total of all claims filed against a landscape contracting business by property owners or their agents under subsection (2) of this section within a 90-day period does not exhaust the bond, letter of credit or deposit, amounts due as a result of all other claims filed within the same 90-day period may be satisfied from the remainder of the bond, letter of credit or deposit, except that the total amount paid from any one bond to nonowner claimants may not exceed $3,000.
(4) If the total of all claims against a landscape contracting business within a single 90-day period exceeds the amount of the bond, letter of credit or deposit available for payment of those claims, payment from the bond, letter of credit or deposit shall be apportioned as the board determines, subject to the claim payment priorities established under this section.
(5) The total amount paid from any one bond for recovery of dispute resolution costs, interest and attorney fees may not exceed $3,000. [1973 c.832 § 29d; 1979 c.840 § 11; 1983 c.452 § 19; 1999 c.34 § 1; 2005 c.609 § 19; 2007 c.149 § 9; 2007 c.541 § 39]
[1975 c.757 § 11; 1987 c.461 § 5; 1991 c.734 § 66; 1995 c.645 § 5; 1997 c.337 § 4; 2001 c.108 § 3; 2001 c.409 § 9a; renumbered 671.955 in 2001]
(Local Business Licenses)