1. (a) All funds raised by a licensee shall be held in trust under the control of the trust department of a bank or trust company located in California.
2. (b) The licensee shall advise the Board in writing of the name and street address of the bank or trust company where the funds are located.

3. (c) The licensee shall keep a record of the following information for each donation or contribution:

   1. (1) the name and address of the donor;
   2. (2) the amount of the contribution;
   3. (3) the date the contribution was received.

4. (d) The licensee shall verify to the Board all requisite forms, reports, and fees required by the State of California, Office of the Attorney General's Registry of Charitable Trusts have been submitted.

   Such records shall be furnished to the Board upon demand.

Note: Authority cited: Sections 7208 and 7210.6, Business and Professions Code. Reference: Section 7210.6, Business and Professions Code.

History

1. Renumbering of Section 2269.2 to Section 2268.2 filed 12-12-80; effective thirtieth day thereafter (Register 80, No. 50).

2. Amendment of subsection (c)(3) and new subsection (d) filed 4-22-2013; operative 7-1-2013 (Register 2013, No. 17).