(a) Obtain a surety bond under ORS 701.068 in the amount of $75,000;

(b) Obtain general liability insurance under ORS 701.073 in an amount of not less than $2 million;

(c) Have a responsible managing individual who meets the requirements of ORS 701.091; and

(d) Have one or more key employees with a combined total of at least eight years of experience described in ORS 701.050.

(2) A commercial specialty contractor level 1 shall:

(a) Obtain a surety bond under ORS 701.068 in the amount of $50,000;

(b) Obtain general liability insurance under ORS 701.073 in an amount not less than $1 million;

(c) Have a responsible managing individual who meets the requirements of ORS 701.091; and

(d) Have one or more key employees with a combined total of at least eight years of experience described in ORS 701.050.

(3) A commercial general contractor level 2 shall:

(a) Obtain a surety bond under ORS 701.068 in the amount of $20,000;

(b) Obtain general liability insurance under ORS 701.073 in an amount of not less than $1 million;

(c) Have a responsible managing individual who meets the requirements of ORS 701.091; and

(d) Have one or more key employees with a combined total of at least four years of experience described in ORS 701.050.

(4) A commercial specialty contractor level 2 shall:

(a) Obtain a surety bond under ORS 701.068 in the amount of $20,000;

(b) Obtain general liability insurance under ORS 701.073 in an amount not less than $500,000;

(c) Have a responsible managing individual who meets the requirements of ORS 701.091; and

(d) Have one or more key employees with a combined total of at least four years of experience described in ORS 701.050.

(5) A commercial developer shall:

(a) Obtain a surety bond under ORS 701.068 in the amount of $20,000; and

(b) Obtain general liability insurance under ORS 701.073 in an amount not less than $500,000. [2007 c.836 §4; 2008 c.5 §1]