OAR 856-015-0055: Surety Bond or Deposit

(1) Each pilot licensed by the Board or on file with the Board as an individual in pilot trainee status shall file with the Board a surety bond in the amount of $250 in the form provided in this rule and underwritten by a surety company authorized to do business in Oregon. (2) In lieu of the surety bond, a pilot may deposit $250 in cash or cashier’s check with the Board as surety of the pilot's obligation under ORS Chapter 776. The Board shall deposit the funds according to the regulations of the state treasurer. (3) If a pilot fails to pay the sum of $250 into the court in which a suit or action alleging negligence by the pilot has been filed, as required by ORS Chapter 776, the Board shall upon demand make such payment from the funds on deposit, if the pilot has elected such deposit in lieu of presentation of a bond. (4) Failure to present a bond or maintain on deposit a sum of $250 as surety shall be grounds for revocation of a pilot’s license. (5) When a pilot surrenders his/her license to the Board, and if no suits or actions are pending against the pilot, the Board shall return the bond or the cash deposit upon receipt of the pilot’s written request. (6) Upon expiration of the pilot’s license and if no suits or actions are pending against the pilot, the Board shall return the bond or the cash deposit upon receipt of the pilot’s written request. (7) An acceptable form of a bond is hereby made a part of this rule as shown in Appendix 1. Copies of the bond may be obtained from the administrator of the Board. [ED. NOTE: Appendices referenced are available from the agency]