Oregon Statutes 701.114 – Change in responsible managing individual or persons exercising control of contractor
(1) Except as provided in this subsection, a contractor licensed under this chapter shall immediately notify the Construction Contractors Board of any change in the identity, name or address of a person who holds a position with the contractor that is described in ORS § 701.046 (1)(h), (i) or (j) or of a responsible managing individual for the contractor as defined in ORS § 701.091. A contractor described in ORS § 701.046 (2) is not required to report a change in the identity, name or address of a person described in ORS § 701.046 (1)(h), (i) or (j).
Terms Used In Oregon Statutes 701.114
- 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
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
- Responsible managing individual: means an individual who:
(a) Is an owner described in ORS § 701. See Oregon Statutes 701.005
(2) Except as provided in this subsection, if a partner or joint venturer departs from a contractor that is a partnership or joint venture, the contractor must obtain a new license before continuing to conduct activities that require a license under this chapter. A contractor described in ORS § 701.046 (2) that is a partnership or joint venture is not required to obtain a new license upon departure of a partner or joint venturer. [2007 c.114 § 7; 2007 c.478 § 1a; 2009 c.226 § 7; 2013 c.300 § 2]
[1971 c.740 § 13; 1975 c.721 § 5; 1983 c.616 § 12; 1989 c.624 § 6; 1989 c.928 § 13; 1993 c.470 § 2; 1997 c.818 § 2; 1999 c.402 § 25; 2001 c.196 § 8; 2003 c.675 § 76; 2005 c.432 § 11; 2007 c.836 § 25; renumbered 701.063 in 2007]