Chap. 355.—An ACT to require persons, firms, corporations and associations so-
liciting subscriptions or contributions to any cause or thing, with certain ex-
ceptions, to keep adequate books showing all sums collected, and how, to
whom and for what disbursed; providing for inspection of such books, and
prescribing punishment for failure to comply with this act. [H B 336]

Approved March 20, 1924.

1. Be it enacted by the general assembly of Virginia, That every
person, firm, corporation or association soliciting subscriptions or con-
tributions to any cause or thing, except as hereinafter provided, shall
keep adequate books showing all sums of money collected and how, to
whom, and for what disbursed. Receipts shall be kept itemized to as
great an extent as may be practicable, and disbursements shall in all
cases be itemized and not shown merely by totals.

The books aforesaid shall be kept at some reasonably accessible place
within the limits of this State and shall at all times be open to the inspec-
tion of the State accountant and the attorney general of Virginia. The
books herein mentioned, however, need not be preserved for a longer
period than two years after solicitation has ceased.

2. This act shall not apply to subscriptions or contributions solic-
ited by any church or other purely religious body or congregation, or
political party nor shall it apply in any case where less than one hundred
and twenty-five persons are jointly or severally solicited for subscrip-
tions or contributions; nor to purely business enterprises.

3. Nothing herein contained shall be construed as making lawful
any act or omission which is now unlawful, or as decreasing the liability,
civil or criminal, of any person, firm, or corporation or association, im-
posed by existing laws.

4. Any person, firm, corporation, or association failing to keep the
books required by this act, or otherwise violating the same, shall be
subject to a fine of not exceeding five hundred dollars, and for each
week’s failure, after the first conviction, a further fine of five hundred
dollars shall be imposed on every subsequent conviction. Prosecutions
of unincorporated associations under this act shall be against the offices
thereof.