57-61.2 - Commercial co-ventures. - Virginia Statutes

§ 57-61.2. Commercial co-ventures.

A. No commercial co-venturer shall conduct any charitable sales promotion inthe Commonwealth on behalf of a charitable or civic organization unless thecharitable or civic organization is duly registered or granted theappropriate exempt status as provided by this chapter.

B. Prior to any charitable sales promotion in the Commonwealth, thecommercial co-venturer shall have a written agreement with the charitable orcivic organization on whose behalf the charitable sales promotion is to beconducted. Such agreement shall be signed by an authorized representative ofthe commercial co-venturer and two officers of the charitable or civicorganization.

C. The commercial co-venturer shall maintain all records in connection withthe charitable sales promotion for a period of three years after the end dateof the charitable sales promotion. All such records shall be made availableto the Commissioner upon request.

(2003, c. 576.)