No person shall act as a professional fund raiser for any charitable organization, including those organizations listed under Section 552.4 of this title, until he has first registered with the Attorney General. Applications for such registrations shall be in writing, under oath, in the form prescribed by that office and shall be accompanied by an annual fee in the sum of Fifty Dollars ($50.00). The applicant shall, at the time of making application, file with and have approved by the Attorney General a bond in which the applicant shall be the principal obligor, in the sum of Two Thousand Five Hundred Dollars ($2,500.00), with one or more sureties whose liability in the aggregate as such sureties will at least equal the said sum. The said bond shall run to the Attorney General for the use of the state and to any person, including a charitable organization, who may have a cause of action against the obligor of said bond for any malfeasance or misfeasance of such obligor or any professional solicitor employed by him in the conduct of such solicitation. Registration when affected shall be for a period of one (1) year, expiring on the thirty-first day of March, and may be renewed upon the filing of the bond and fee prescribed herein for additional one-year periods.

Added by Laws 1959, HB 632, p. 90, § 7, emerg. eff. May 8, 1959; Amended by Laws 1978, HB 1478, c. 244, § 5, emerg. eff. July 1, 1978; Amended by Laws 1984, SB 537, c. 79, § 4, emerg. eff. April 3, 1984; Amended by Laws 1994, c. 235, § 12, eff. September 1, 1994.