Oregon Administrative Rules|Section 177-040-0030 - Retailer Cash Deposit or Bond

                                                
Current through Register Vol. 60, No. 12, December 1, 2021 
If the Director has reason to believe an applicant or retailer may not be financially sound, the Director may require a Lottery retailer to post:
 
(1) Irrevocable Letter of Credit: A $5,000 irrevocable letter of credit issued by a banking institution as defined in ORS 706.008(4); or
 
(2) Bond: A $5,000 bond issued by a surety company or companies holding a certificate of authority to transact surety business in the State of Oregon and approved by the Director.
 
Or. Admin. R. 177-040-0030
LC 9-1992, f. & cert. ef. 8-26-92; LOTT 2-2003(Temp), f. & cert. ef. 3-14-03 thru 9-5-03; LOTT 9-2003, f. & cert. ef. 6-30-03; LOTT 12-2008, f. 12-23-08, cert. ef. 1-1-09
Stat. Auth.: OR Const. Art. XV, Sec. 4(4) & ORS 461
 
Stats. Implemented: ORS 461.300