Or. Admin. R. 812-003-0230 - Effective and Cancellation Dates of the Insurance
(1) For purposes of licensing, the effective
date of the insurance required under ORS
701.073,
701.081 and
701.084 is the date on which the
licensee has first met all requirements for licensing, renewal or reissue as
determined by the agency.
(2) The
insurance described in section (1) of this rule shall remain in effect until
the license is suspended, terminated, revoked, expired, lapsed, or inactive, or
until the insurance expires or a cancellation notice is provided by the
insurer.
(3) Immediately upon
cancellation or expiration of the insurance described in section (1) of this
rule, the agency may send an emergency suspension notice to the contractor as
provided for in ORS 701.098(4)(a)(B),
informing the contractor that the license has been suspended.
Notes
Stat. Auth.: ORS 670.310 & 701.235
Stats. Implemented: ORS 701.073, 701.081, 701.084 & 701.098
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