(1) A certificate or permit is subject to suspension or cancellation, if the holder thereof:

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(a) Is delinquent in reporting or paying any fees, taxes or penalties due the Department of Transportation, whether imposed under this chapter or under ORS Chapter 826; or

(b) Has refused or failed, within the time provided, to file a deposit or bond requested under ORS § 825.506.

(2) A written 10-day notice of suspension shall be given to the certificate or permit holder and unless a hearing is requested within such time, the certificate or permit shall be deemed suspended without further notice or hearing until the report, payment, bond or deposit is filed with the department.

(3) Upon a written 10-day notice by the department, a certificate or permit may be suspended or canceled for any of the reasons set forth in subsection (1) of this section. If the certificate or permit is suspended, the filing of the report, payment, bond or deposit will not reinstate the authority until the suspension period has expired, except on order of the department. [Formerly 767.786; 1997 c.275 § 38; 2001 c.567 § 9]