Oregon § 384.140 Bond or letter of credit of ferry licensee

Oregon Statutes

§ 384.140 — Bond or letter of credit of ferry licensee

Oregon § 384.140

Vol.10

Title 31Highways, Roads, Bridges and Ferries

Ch. 384Ferries

This text of Oregon § 384.140 (Bond or letter of credit of ferry licensee) is published on Counsel Stack Legal Research, covering Oregon primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Or. Rev. Stat. § 384.140 (2026).

Text

Persons licensed by the Department of Transportation to maintain and operate a ferry under ORS 384.105 to 384.150 shall be required to furnish a bond or an irrevocable letter of credit issued by an insured institution as defined in ORS 706.008 in such amount as the department requires. The bond or letter of credit shall be conditioned upon the faithful compliance with and performance of all the conditions, requirements and provisions contained in the license, and shall be in such form as the department may prescribe. The bond or letter of credit shall be made payable to the state.

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Persons licensed by the Department of Transportation to maintain and operate a ferry under ORS 384.105 to 384.150 shall be required to furnish a bond or an irrevocable letter of credit issued by an insured institution as defined in ORS 706.008 in such amount as the department requires. The bond or letter of credit shall be conditioned upon the faithful compliance with and performance of all the conditions, requirements and provisions contained in the license, and shall be in such form as the department may prescribe. The bond or letter of credit shall be made payable to the state.