Commercial Co-Venturers need to stay compliant with state laws. In Alabama, that includes obtaining a surety bond.
The State of Alabama Office of the Attorney General, Consumer Protection Section is responsible for registration of commercial co-venturers or professional fundraisers, telemarketers, charities, professional solicitors, health studios and protection of consumer services.
The Attorney’s General Office defines a Commercial Co-Venturer as follows “are businesses that conduct a sale, performance, or event for profit or other consideration, which will benefit a charitable or religious organization.”
The Alabama Code (13A-0-70 1996) provides the details for registration.
The following is required for registration:
1. Completion of the Commercial Co-Venturer Registration Statement with an original notarized signature and payment of the registration fee.
2. Within 90 days of terminating a contract, submit a closing statement with the Attorney General Office disclosing gross receipts and all expenditures incurred during the contract period.
3. Obtain a $10,000 surety bond and submit the original with the registration statement.
4. Registration and bonds renew annually September 30th of each year.
Premiums for the Alabama Commercial Co-Venturer Bond start as low as $100, depending on credit.
Hours: 8:00-5:00 CST, Monday through Friday
SuretyGroup.com is your online bond provider.