Title 9: Commerce and Trade

Chapter 63: CONSUMER PROTECTION

Sub-Chapter 02: Charitable Solicitations

9 V.S.A. § 2477. Financial report

§ 2477. Financial report

(a) No later than 90 days after a fundraising campaign has been completed, and no later than 90 days after the anniversary of the commencement of a fundraising campaign lasting more than one year, a paid fundraiser that has solicited contributions in this state shall file a financial report with the attorney general on a form prescribed by the attorney general. The information required by this section shall pertain to the entire fundraising campaign, or, in the case of a campaign lasting more than one year, to the 12 months ending on the most recent anniversary of the commencement of the campaign.

(b) The financial report shall contain the following:

(1) Total gross receipts.

(2) A description of how the gross receipts were distributed, including an itemized list of all expenses, commissions, and other costs of the fundraising campaign, and the net amount paid to the charitable organization for its charitable purposes, after payment of all fundraising expenses, commissions, and other costs.

(3) The percentage of gross receipts represented by the total of fundraising expenses, commissions, and other costs.

(4) The percentage of gross receipts represented by the net amount paid to the charitable organization for its charitable purposes, after payment of all fundraising expenses, commissions, and other costs.

(5) The signature of the charitable organization.

(6) Such other information as the attorney general may by rule require.

(c) The attorney general may adopt rules requiring that the financial report be filed electronically, with proper verification. (Added 1989, No. 232 (Adj. Sess.), § 2; amended 2003, No. 110 (Adj. Sess.), § 2, eff. May 11, 2004.)

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