The following is a list of key provisions identified by the Office of the Attorney General:
1. Charitable organizations have 30 days, instead of six months, to register and file articles of incorporation with the Attorney General’s Registry of Charitable Trusts.
2. Independent audit of annual financial statements now required for charities with gross revenues of $2 million or more.
3. Charities with gross revenues of $2 million or more must establish and maintain an audit committee.
4. Executive compensation by charitable corporations, unincorporated associations and charitable trusts must be reviewed and approved [by their governing board or authorized board committee].
5. Commerical fundraisers must notify Attorney General before starting a solicitation campaign.
6. Commercial fundraisers must have written contracts with the charitable organizations for whom they are working.
7. Charitable organizations can void contracts with unregistered commerical fundraisers.
8. Fundraising counsel must notify Attorney General before starting solicitation campaign.
9. Fundraising counsel must have written contracts with charitable organizations.
10. Charitable organizations can cancel contracts with commercial fundraisers.
11. Charitable organizations and commercial fundraisers for charitable purposes have specific obligations when fundraising.
12. Charitable organizations and commercial fundraisers for charitable purposes are prohibited from engaging in misrepresentation and certain other acts when soliciting donations.
13. Commercial fundraisers must keep records of solicitation campaigns for at least 10 years.