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§ 3.7 REGULATION OF PROFESSIONAL SOLICITORS

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Usually, the states' charitable solicitation acts require professional solicitors to register in accordance with and otherwise comply with the statute. These laws often also impose a variety of reporting, disclosure, and other requirements. Thus, many states require annual (or sometimes other) reports from professional solicitors; the more common practice is annual registration. Some states require both.

The statutory bonding requirements for professional solicitors are as follows: $50,000, $25,000, $20,000, $15,000, $10,000, or $5,000.

The scope of these regulatory requirements is largely governed by the reach of the definition, under a state's charitable solicitations law, of the term professional solicitor.60 The wide variation in these definitions is frequently confusing.

The Law of Fundraising

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