§ 6-19-405 — Post-transaction requirements

For a period of not less than five
years, the nonprofit charitable organization receiving the proceeds of the covered
transaction shall provide the attorney general with an annual report of its grant-making and other charitable activities related to its use of the proceeds of the
covered transaction received. For a period of not less than five years, the for-profit
entity shall provide the attorney general with an annual report detailing its
activities to satisfy the requirements of section 6-19-403 at the time of the review
and assessment. These annual reports shall be made available to the public at the
attorney general's office, the office of the nonprofit charitable organization, and the
offices of the parties to the covered transaction. The annual report shall be filed no
later than ninety days after the year that the report addresses.

Legislative History

Source: L. 98: Entire article added, p. 527, � 1, effective April 30.