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.)

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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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