Oklahoma § 18-552.8 - Contracts

§ 18-552.8. Contracts

A. All contracts entered into by a charitable organization with

a professional fundraiser or professional fundraising counsel for

charitable solicitations or fundraising services shall be in

writing. The charitable organization and the professional

fundraiser or professional fundraising counsel shall each keep and

maintain such contracts on file in their principal offices for a

period of five (5) years from the date that the contract was

executed. These contracts shall be available for inspection by the

Office of the Attorney General.

B. The contract shall clearly state:

1. The respective obligations of each party;

2. The compensation arrangement. If the compensation payable

to the professional fundraiser is based on a percentage or formula,

the contract shall state the percentage of the gross revenue derived

in connection with the solicitation that the charitable organization

will receive or other formula for payment;

3. Any goods or services to be offered to the public;

4. The geographic area where the campaign will take place;

5. In the case of a contract with a professional fundraiser,

the period of time or periods during which solicitations are to be

conducted, which may be specific periods, estimated or projected

time frames, or continuous, and which may involve different periods

for different types of solicitations by the same charitable

organization;

6. A fundraising budget, if available; and

7. Provisions for a final accounting of contributions raised

and expenses incurred.

The contract shall also describe in reasonable detail the

services to be provided by the professional fundraiser and shall

Oklahoma Statutes - Title 18. Corporations

clearly state whether the professional fundraiser may, at any time,

have custody, possession or control of any contributions.

Added by Laws 1959, p. 90, § 8, emerg. eff. May 8, 1959. Amended by

Laws 1978, c. 244, § 6, eff. July 1, 1978; Laws 1984, c. 79, § 5,

emerg. eff. April 3, 1984; Laws 1994, c. 235, § 13, eff. Sept. 1,

1994; Laws 1997, c. 334, § 5, eff. July 1, 1997; Laws 1999, c. 421,

§ 6, eff. Nov. 1, 1999; Laws 2010, c. 460, § 7, eff. July 1, 2011.