(2) In lieu of any bond that may be required under subsection (1) of this section, any applicant may deposit with the State Fish and Wildlife Commission, under such terms and conditions as the director may prescribe, a like amount of lawful money of the United States or an irrevocable letter of credit issued by an insured institution, as defined in ORS 706.008. The commission shall turn over to the State Treasurer for safekeeping all such deposits so received. [Amended by 1963 c.196 §3; 1965 c.570 §68; 1969 c.52 §1; 1991 c.331 §73; 1991 c.701 §17; 1997 c.631 §484]
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