OAR 259-059-0130: Proof of Ability to Pay Wages
An entity can prove the Ability to Pay Wages by providing one of the following:
(a) A corporate surety bond;
(b) An irrevocable letter of credit;
(c) A cash deposit; or
(d) A deposit the equivalent of cash.
Forms for each option are available on our website at: https://www.oregon.gov/dpsst/PSEntity/Pages/ability_to_pay_wages.aspx
The bond, letter of credit, or deposit must be in the amount of:
(a) $5,000 when a private security entity has 10 or fewer executive managers, private security professionals, and supervisory managers;
(b) $10,000 when a private security entity has 11 to 20 executive managers, private security professionals, and supervisory managers;
(c) $20,000 when a private security entity has 21 to 50 executive managers, private security professionals, and supervisory managers; or
(d) $30,000 when a private security entity has more than 50 executive managers, private security professionals, and supervisory managers.
A Private security entity that is a public body, as defined in ORS 30.260, may provide proof of the ability to pay wages in the form of a financial officer statement attesting to the private security entity's ability to promptly pay the wages, pursuant to OAR 259-059-0130.