Any organization qualified under Section 148.3 to solicit donations of salvageable personal property, or to sell salvageable personal property obtained by soliciting, shall: (a) maintain separate bank accounts and separate books and records for such solicitations or sales, and shall not commingle any proceeds of such solicitations or sales with any other assets; and (b) fully comply with the provisions of the Supervision of Trustees and Fundraisers for Charitable Purposes Act (Article 7 of Chapter 6 (commencing with Section 12580) of the Government Code).

(Amended by Stats. 2020, Ch. 370, Sec. 269. (SB 1371) Effective January 1, 2021.)

Terms Used In California Welfare and Institutions Code 148.2

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Personal property: All property that is not real property.
  • Salvageable personal property: means any type of corporeal personalty, new or used, but not including money or evidences of debt. See California Welfare and Institutions Code 148
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