§ 5-53.1-9 - Contracts of professional fundraisers and fundraising counsel. - Rhode Island Statutes

SECTION 5-53.1-9

   § 5-53.1-9  Contracts of professionalfundraisers and fundraising counsel. – (a) No person shall act as a professional fundraiser or fundraising counselbefore he, she or it has a written contract with the charitable organization. Atrue and correct copy of each contract entered into between a professionalfundraiser or fundraising counsel and a charitable organization shall be filedby the professional fundraiser or fundraising counsel who is a party to thecontract with the director within ten (10) days after it is signed. True andcorrect copies of the contracts shall be kept on file in the offices of thecharitable organization and the professional fundraiser or fundraising counselduring the term of the contract and until the expiration of a period of three(3) years subsequent to the date the solicitation of contributions provided forin the contract actually terminates.

   (b) Every contract between a professional fundraiser and acharitable organization shall contain or shall be deemed to contain a provisionthat within five (5) days of receipt all funds received from solicitation shallbe deposited in a bank account in the sole name of the charitable organizationor shall be delivered to the organization for deposit.