Or. Admin. Code § 471-070-3320

Current through Register Vol. 63, No. 12, December 1, 2024

Section 471-070-3320 - Contributions: Deposit, Bond, or Letter of Credit

(1) For the purposes of ORS 657B.190, the director or an authorized representative may require a deposit, bond or an irrevocable letter of credit issued by an insured institution, as defined in ORS 706.008, when the director or an authorized representative finds it necessary for the protection of the Paid Family and Medical Leave Insurance (PFMLI) Fund established under ORS 657B.430.

(2) The determination that a deposit, bond or irrevocable letter of credit is necessary is in the director or an authorized representative's sole discretion. Circumstances that will require a deposit, bond or irrevocable letter of credit include, but are not limited to, circumstances where an employer who currently employs employees subject to ORS chapter 657B:

(a) Is currently delinquent in filing PFMLI reports or payment of PFMLI contributions; or

(b) Was previously delinquent in filing PFMLI reports or payment of PFMLI contributions.

Or. Admin. Code § 471-070-3320

ED 4-2022, adopt filed 01/31/2022, effective 1/31/2022

Statutory/Other Authority: ORS 657B.340

Statutes/Other Implemented: ORS 657B.190 & 657B.430