Oregon Statutes 701.081 – Residential contractors; bond; insurance; responsible managing individual
(1) A residential general contractor shall:
Terms Used In Oregon Statutes 701.081
- Board: means the Construction Contractors Board. See Oregon Statutes 701.005
- Contractor: means any of the following:
(a) A person that, for compensation or with the intent to sell, arranges or undertakes or offers to undertake or submits a bid to construct, alter, repair, add to, subtract from, improve, inspect, move, wreck or demolish, for another, a building, highway, road, railroad, excavation or other structure, project, development or improvement attached to real estate, or to do any part thereof. See Oregon Statutes 701.005
- Developer: means a contractor that owns property or an interest in property and engages in the business of arranging for construction work or performing other activities associated with the improvement of real property, with the intent to sell the property. See Oregon Statutes 701.005
- Home inspector: means a person who, for a fee, inspects and provides written reports on the overall physical condition of a residential structure. See Oregon Statutes 701.005
- Responsible managing individual: means an individual who:
(a) Is an owner described in ORS § 701. See Oregon Statutes 701.005
- Specialty contractor: includes a person who performs work regulated under ORS § 446. See Oregon Statutes 701.005
(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. [2007 c.836 § 3; 2013 c.300 § 9; 2013 c.383 § 11; 2015 c.498 § 6; 2023 c.254 § 1]