13-22-16. Separate accounts and receipts required.
(1) Each organization required to be registered under this chapter and each professional
fund raiser shall segregate and maintain all contributed funds in an account held separately from
its operating account. Each contribution in the control or custody of the professional solicitor
shall, in its entirety and within ten days of its receipt, be deposited in an account at a bank or other
federally 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 control
of all withdrawals.
(2) Each organization required to be registered under this chapter and each professional
fund raiser shall maintain and use duplicate receipts for contributions of money, securities, and
cash equivalents so that one receipt is issued to each contributor and one is maintained by the
charitable organization.
Amended by Chapter 210, 2001 General Session
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Last revised: Thursday, May 01, 2008