Section 701.084 - Commercial contractors; bond; insurance; responsible managing individual; key employees(1) A commercial general contractor level 1 shall: (a) Obtain a surety bond under ORS 701.068 in the amount of $80,000;(b) Obtain general liability insurance under ORS 701.073 in an amount of not less than $2 million;(c) Have a responsible managing individual who meets the requirements of ORS 701.091; and(d) Have one or more key employees with a combined total of at least eight years of experience described in ORS 701.050.(2) A commercial specialty contractor level 1 shall: (a) Obtain a surety bond under ORS 701.068 in the amount of $55,000;(b) Obtain general liability insurance under ORS 701.073 in an amount not less than $1 million;(c) Have a responsible managing individual who meets the requirements of ORS 701.091; and(d) Have one or more key employees with a combined total of at least eight years of experience described in ORS 701.050.(3) A commercial general contractor level 2 shall: (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 $1 million;(c) Have a responsible managing individual who meets the requirements of ORS 701.091; and(d) Have one or more key employees with a combined total of at least four years of experience described in ORS 701.050.(4) A commercial specialty contractor level 2 shall: (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 not less than $500,000;(c) Have a responsible managing individual who meets the requirements of ORS 701.091; and(d) Have one or more key employees with a combined total of at least four years of experience described in ORS 701.050.(5) A commercial 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.Amended by 2023 Ch. 254,§ 2, eff. 9/24/2023, op. 1/1/2024. 2007 c. 836, § 4; 2008 c. 5, § 1