bond effective date is the date as stated on the Landscape Contracting Business
Surety Bond form.
(2) The bond
shall remain in effect and be continuous until cancelled by the surety or until
the landscape contracting business no longer meets the requirements for
licensing as determined by the agency, whichever comes first.
(3) A bond may be cancelled by the surety
only after the surety has given 30 days' notice to the agency. Cancellation
will be effective no less than 30 days after receipt of the cancellation
(4) Upon cancellation of
the bond, or cancellation without an authorized release by the agency of a
letter of credit or cash deposit the agency may immediately suspend the
landscape contracting business as provided for in ORS
(5) The letter of credit or cash deposit
effective date is the date the landscape contracting business meets all
requirements for licensing or renewal.
(6) The letter of credit or cash deposit
shall remain in effect for one year after the expiration, suspension,
termination or approval of inactive status and may only be released by the
The bond, letter of
credit or cash deposit shall be subject to final orders as described in OAR