(1) The Commissioner of the Bureau of Labor and Industries shall, before entering upon the duties of the office of the commissioner, execute a bond to the state in the sum of $5,000, conditioned upon the faithful, honest and impartial performance of the duties under ORS 651.030, 651.050, 651.060, 651.120, 651.160 and 651.170 and upon the prompt and faithful accounting for all fees of any nature collected by the commissioner or by designated assistants or deputies.
(2) The bond shall be approved by the Attorney General regarding its legal form and be filed in the office of the Secretary of State.
(3) The premium on the bond shall be payable from any fund under the control and administration of the commissioner or of the Bureau of Labor and Industries or from any appropriation made for the purpose of defraying the expenses of the commissioner or of the Bureau of Labor and Industries. [Amended by 1979 c.225 §1]