Texas Business and Commerce Code 303.103 – Notice of Disposition of Money
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(a) If less than 90 percent of the contributions collected by a law enforcement-related charitable organization or commercial telephone solicitor are paid to a law enforcement-related charitable organization, the commercial telephone solicitor shall notify each person solicited by telephone, before accepting a contribution from the person, of:
(1) the percentage of the contributions that will be paid to the organization for which the contributions are being solicited; and
(2) the percentage of the contributions that the solicitor will retain.
(b) Information required to be disclosed under Subsection (a) shall also be included on any written statement mailed to the contributor.
Terms Used In Texas Business and Commerce Code 303.103
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005