Oregon Statutes 701.073 – Insurance required of licensed contractors
(1) A contractor who possesses a license as required under this chapter shall have in effect public liability, personal injury and property damage insurance covering the work of the contractor that is subject to this chapter, including the covering of liability for products and completed operations according to the terms of the policy and subject to applicable policy exclusions, for an amount not less than the applicable amount set forth in ORS § 701.081 or 701.084.
Terms Used In Oregon Statutes 701.073
- 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
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
(2) The contractor shall provide satisfactory evidence to the Construction Contractors Board at the time of licensure and renewal that the insurance required by subsection (1) of this section has been procured and is in effect. [Formerly 701.105]
[1971 c.740 § 9; 1973 c.832 § 56; 1979 c.312 § 2; 1981 c.618 § 12; 1989 c.624 § 2; 1989 c.870 § 2; 1989 c.928 § 7; 1995 c.216 § 6; 1999 c.344 § 1; 1999 c.402 § 18a; 2001 c.160 § 2; 2001 c.196 § 5; 2003 c.675 § 73; 2005 c.432 § 9; 2007 c.478 § 2; 2007 c.648 § 24; 2007 c.836 § 58a; renumbered 701.046 in 2007]
[2005 c.432 § 4; 2007 c.648 § 25; renumbered 701.094 in 2007]
[2005 c.432 § 3; 2007 c.113 § 1; 2007 c.648 § 26; 2007 c.836 § 21; renumbered 701.091 in 2007]
[1979 c.312 § 5; 1983 c.616 § 9; 1989 c.928 § 8; 1997 c.301 § 1; 1999 c.402 § 20; renumbered 701.117 in 2007]