Or. Admin. R. 808-003-0615 - New Bond, Letter of Credit or Cash Deposit Required for Change in Entity

(1) If a landscape contracting business is licensed as a sole proprietorship, partnership, limited liability partnership, limited partnership, joint venture, corporation, limited liability company, business trust or any other entity and seeks to change the licensed entity to one of the other entity types and a new license is required, the application must be accompanied by a new:

(a) Bond separate from the bond held for the previous entity;

(b) Letter of credit separate from the letter of credit held for the previous entity; or

(c) Cash deposit separate from the previous cash deposit held for the previous entity.

(2) Riders to existing bonds issued for changing the type of business entity bonded will only be accepted if a new license is not required per OAR 808-003-0100(3). If a new license is required the landscape contracting business must file a new bond.

Notes

Or. Admin. R. 808-003-0615

LCB 7-2009, f. & cert. ef. 10-28-09

Stat. Auth.: ORS 670.310 & 671.670

Stats. Implemented: ORS 671.690