13-22-16 - Separate accounts and receipts required. - Utah Statutes

13-22-16. Separate accounts and receipts required.
(1) Each organization required to be registered under this chapter and each professionalfund raiser shall segregate and maintain all contributed funds in an account held separately fromits operating account. Each contribution in the control or custody of the professional solicitorshall, in its entirety and within 10 days of its receipt, be deposited in an account at a bank or otherfederally insured financial institution which shall be in the name of the charitable organization. The charitable organization shall maintain and administer the account and shall have sole controlof all withdrawals.
(2) Each organization required to be registered under this chapter and each professionalfund raiser shall maintain and use duplicate receipts for contributions of money, securities, andcash equivalents so that one receipt is issued to each contributor and one is maintained by thecharitable organization.

Amended by Chapter 210, 2001 General Session