OAR 471-070-3320: Contributions: Deposit, Bond, or Letter of Credit

(1) For the purposes of ORS 657B.190, the director or an authorized representative may require a deposit, bond or an irrevocable letter of credit issued by an insured institution, as defined in ORS 706.008, when the director or an authorized representative finds it necessary for the protection of the Paid Leave Oregon Fund established under ORS 657B.430. (2) The determination that a deposit, bond or irrevocable letter of credit is necessary is in the director or an authorized representative’s sole discretion. Circumstances that will require a deposit, bond or irrevocable letter of credit include, but are not limited to, circumstances where an employer who currently employs employees subject to ORS chapter 657B: (a) Is currently delinquent in filing Paid Leave Oregon reports or payment of Paid Leave Oregon contributions; or (b) Was previously delinquent in filing Paid Leave Oregon reports or payment of Paid Leave Oregon contributions.