If the Commissioner of the Bureau of Labor and Industries finds that an applicant has operated as an Oregon licensed labor contractor without an employee indorsement for at least two years in compliance with ORS 658.405 to 658.511 and with any other laws pertaining to the conduct of labor contractors, and that no valid claims for unpaid wages have been made against the applicant, then the commissioner may reduce the amount of the bond or deposit that would otherwise be required pursuant to ORS 658.415 (3) to an amount determined by the commissioner, but in no event less than the following: (1) If the commissioner finds that the labor contractor has so operated for a period of at least five years, $20,000; (2) If the commissioner finds that the labor contractor has so operated for at least four years, $22,500; (3) If the commissioner finds that the labor contractor has so operated for at least three years, $25,000; or (4) If the commissioner finds that the labor contractor has so operated for at least two years, $27,500.
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