§ 2476 - Bank accounts - Vermont Statutes

§ 2476. Bank accounts

(a) All checks and money orders contributed in response to a solicitation shall be made out to the name of the charitable organization.

(b) A paid fundraiser shall immediately deposit, in a bank account in the name of the charitable organization with which the paid fundraiser has contracted, all contributions received by the paid fundraiser. The signature of the treasurer or other agent designated by the charitable organization shall be required to remove any funds from the account.

(c) Within 60 days after a solicitation campaign has been completed, the paid fundraiser shall file with the charitable organization a closing statement for the campaign, including the name and address of each contributor and the amount of the contribution; the amount of gross receipts; and an itemized list of all expenses, commissions, and other costs incurred in the campaign. (Added 1989, No. 232 (Adj. Sess.), § 2.)