North Carolina Professional Solicitor Bond
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How much will my professional solicitor surety bond cost in North Carolina?
The bond amount required for professional solicitors in North Carolina depends on the total amount of contributions received during the last fiscal year. The cost of professional solicitor bonds in North Carolina varies depending on the required bond amount and a review of the applicant’s credit score.
Don’t struggle to calculate the price you might pay for your bond. Let us do all of the hard work for you! Give us a call at 1 (800) 308-4358 or submit a bond request and one of our experts will provide a free bond quote within 1 business day.
Why are professional solicitors bonded?
North Carolina professional solicitor bonds ensure that if consumers are wronged by a professional solicitor’s poor business practices, they can be compensated for any losses they suffer. Specifically, these bonds ensure that professional solicitors will adhere to all rules and regulations set in the General Statutes of North Carolina Section 131F-16(d). Violations of this legislation include:
- Making statements that funds are being solicited for a charity or that they will be used for charitable purposes when they aren’t/won’t
- Harboring contributions for longer than two days after receiving them
- Failing to place each contribution in its entire amount in an account at a bank or other federally insured financial institute in the account name of the charitable organization or sponsor
- Failing to maintain the proper records of each solicitation
What’s the fine print?
North Carolina professional solicitor bonds run continuously unless otherwise canceled by the surety. If the surety chooses to terminate the bond, written notice must be filed with the state 30 days prior to the desired date of termination.
How to become a professional solicitor in North Carolina
Any organization or person that solicits contributions in North Carolina is required to obtain the appropriate license. Information required on the license application includes:
- The street address and telephone number of the principal place of business
- The names and residence addresses of all officers, directors and owners
- The names of all persons in charge of any solicitation activity
- A statement as to whether the applicant or any other employees involved in solicitation have been convicted within the last five years of any felony or misdemeanor pertaining to solicitation
License application fees are set on a sliding scale based upon contributions received per fiscal year.
By law, the Charitable Solicitation Licensing Section (CSL) will process all license requests within 10 days of receiving an application.
All licenses expire on March 31 of each year, meaning the principal must renew on or before March 31st to remain legally licensed.
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