What are the proper money-handling procedures for professional fundraising consultants and paid solicitors who collect contributions in the course of a solicitation campaign?
Professional fundraising consultants and paid solicitors must deposit each contribution in an account at a bank or other federally insured financial institution within two business days after its receipt. The account must be in the name of the charitable organization with whom the professional fundraiser or paid solicitor is contracted, and the charitable organization must have sole control over all withdrawals from the account.
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