Or. Rev. Stat. § 673.810
Duty to maintain bonds or deposits; duty to maintain insurance or deposits
Oregon · Oregon Revised Statutes Chapter 673 — Accountants; Other Tax Professionals · Status: effective
Cite this
- Citation
- Or. Rev. Stat. § 673.810, Duty to maintain bonds or deposits; duty to maintain insurance or deposits, Oregon, version 1 as recorded 2026-10-04, yourstate.us, https://yourstate.us/provision/2525221
- Permanent ID
ys:prov:2525221@1- SHA-256
46904856de14749eb12c6bc167786309248a5a7d995c4a7d3d3422d0a9c55a0c
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(1) An exchange facilitator shall at all times:
(a) Maintain one or more fidelity bonds that are issued by a corporate surety authorized to do business in this state in an aggregate amount of not less than $1 million;
(b) Deposit with a financial institution in an interest-bearing deposit account or money market account, the interest of which accrues to the exchange facilitator, moneys, securities or irrevocable letters of credit issued by corporate sureties authorized to do business in this state in an aggregate amount of not less than $1 million;
(c) Deposit with a financial institution funds used in an exchange under 26 U.S.C. 1031 in a qualified escrow account or a qualified trust and provide that withdrawals from the account or trust require both the exchange facilitator’s and the client’s written authorization; or
(d) Be listed as a named insured on one or more fidelity bonds that are issued by a corporate surety authorized to do business in this state in an aggregate amount of not less than $1 million.
(2) An exchange facilitator shall at all times:
(a) Maintain errors and omissions insurance issued by an authorized insurer, as defined in ORS 731.066, in an amount not less than $250,000;
(b) Deposit with a financial institution in an interest-bearing deposit account or money market account, the interest of which accrues to the exchange facilitator, moneys, securities or irrevocable letters of credit issued by corporate sureties authorized to do business in this state in an aggregate amount of not less than $250,000; or
(c) Be listed as a named insured in an errors and omissions insurance policy issued by an authorized insurer, as defined in ORS 731.066, in an amount of not less than $250,000.
(3) An exchange facilitator may maintain bonds or deposits as provided in subsection (1) of this section or insurance or deposits as provided in subsection (2) of this section in amounts in excess of the minimum amounts specified in subsections (1) and (2) of this section.