(2) The department may, in lieu of such deposit, accept a bond to secure payment for services or materials to be furnished. The deposit or posting of the bond shall not relieve the person from making payments as required by law or by ORS 561.410.
(3) If such person files a written statement with the department that services or materials of the department are no longer required, the department, upon receipt of all payments due, shall refund to the person all deposits remaining to the person’s credit and shall cancel any bond given under this section. [1959 c.229 §5]
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