Determination of amount to be paid from bond

(1) If a licensed contractor fails to pay a complainant amounts due under a court judgment or under a final order of the Bureau of Labor and Industries, the Construction Contractors Board shall issue a determination stating the amount that a surety must pay the complainant. The surety shall pay the amount required under the determination as follows: (a) If the complaint was filed under ORS 701.145, the surety shall pay the amount from a bond required for a residential contractor. (b) If the complaint was filed under ORS 701.146, the surety shall pay the amount from a bond required for a commercial contractor. (2) The surety may not pay on a complaint until the surety receives notice from the board that the complaint is ready for payment. (3) Notwithstanding ORS 701.153 and 701.157, a bond is not subject to payment for a complaint that is filed more than 14 months after the earlier of: (a) The expiration or cancellation date of the license that was in force when the work that is the subject of the complaint was completed or abandoned; or (b) The date that the surety canceled the bond.