1. (1) In addition to any information required by article 7-A, including section 174-a, all contracts filed with the Attorney General must include the following:

   1. (i) the names, addresses and New York State registration numbers of both parties to the contract;
   2. (ii) the signatures and dates of signature of the parties to the contract;
   3. (iii) the beginning and expiration dates of the contract;
   4. (iv) the terms of the contract, including a clear description of the services to be performed by the professional fund raiser or fund raising counsel; and

   5. (v) a clear statement of the financial arrangement between the parties which shall include, if applicable, a statement of:

      1. (a) the percentage or dollar amount of the total funds collected on behalf of the charitable organization which shall be retained by or paid to the professional fund raiser for purposes other than the exclusive benefit of the charitable organization's charitable purposes;
      2. (b) the fixed fee if any to be received by the professional fund raiser or fund raising counsel;
      3. (c) all contractual expenses to be incurred by the professional fund raiser or fund raising counsel but charged to the charitable organization or subsequently deducted from the gross receipts. Such list shall contain specific dollar amounts or projected estimates of these costs; and
      4. (d) the costs per unit for the services to be provided and the projected number of units to be provided; and

   6. (vi) a renewal or extension of a contract must comply with the provisions of this section.

      (b) Contract approval, filing and cancellation.

2. (1) No contract will be accepted for filing by the Attorney General, unless the contract complies with this subdivision and article 7-A, and no services shall be performed pursuant to such contract if the Attorney General notifies the professional fund raiser or fund raising counsel and the charitable organization of any deficiencies in the contract and/or compliance with the registration and filing requirements of article 7-A or EPTL section 8-1.4 and this Chapter.
3. (2) Whenever a charitable organization contracts with a professional fund raiser, fund raising counsel or commercial co-venturer, the charitable organization shall have the right to cancel the contract without cost, penalty or liability for a period of 15 days following the date on which said contract was executed. Any provision in the contract that is intended to waive this right of cancellation shall be void and unenforceable.

(a) Content of contracts.