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Arkansas Code Title 4. Business and Commercial Law § 4-28-408. Commercial coventurers--Filing of contracts--Terms--Accounting--Disclosures required in advertising

Current as of March 28, 2024 | Updated by Findlaw Staff

(a)(1) Every charitable organization subject to the registration requirements of this subchapter that agrees to permit a charitable sales promotion to be conducted in its behalf shall obtain a written agreement from the commercial coventurer and file a copy of the agreement with the Secretary of State before the commencement of the charitable sales promotion within this state.

(2) An authorized representative of the charitable organization and the commercial coventurer shall sign the agreement, and the terms of the agreement shall include at a minimum the following:

(A) The goods or services to be offered to the public;

(B) The geographic area where, and the starting and final date when, the offering is to be made;

(C) The manner in which the name of the charitable organization is to be used, including any representation to be made to the public as to the amount or percent per unit of goods or service purchased or used that is to benefit the charitable organization;

(D) A provision for an accounting on a per unit basis to be given by the commercial coventurer to the charitable organization and the date on which it is to be made; and

(E) The date when and the manner in which the benefit is to be conferred on the charitable organization.

(b) A commercial coventurer shall keep the final accounting for each charitable sales promotion for three (3) years after the accounting date, and the accounting shall be available to the Secretary of State and the Attorney General upon reasonable request.

(c)(1) A commercial coventurer shall disclose in each advertisement for a charitable sales promotion the amount per unit of goods or services purchased or used that is to benefit the charitable organization or purpose.

(2) The amount may be expressed as a dollar amount or as a percentage of the value of the goods or services purchased or used.

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Cite this article: FindLaw.com - Arkansas Code Title 4. Business and Commercial Law § 4-28-408. Commercial coventurers--Filing of contracts--Terms--Accounting--Disclosures required in advertising - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-4-business-and-commercial-law/ar-code-sect-4-28-408/

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