Telephonic Seller Registration Manual

Statutes

This takes you to the digital copy of the Telephonic Seller Registration and Bond Requirement (Article 33) statute.

You can view and download the statute here: Chapter 66, Article 33.

Bond Requirements

Telephonic Seller Bond Requirements

At least ten (10) days before the commencement of any promotion offering any gift or prize with an actual or represented market value of five hundred dollars ($500.00) or more, the telephonic seller is to notify the Secretary of State’s Office in writing the details of the promotion. The details include:

• A full description, nature and number of all gifts or prizes and their current market value
• The seller’s rules and regulations governing the promotion
• The date the gifts or prizes are to be awarded (All gifts and prizes shall be awarded)

A bond is to be posted with the Secretary of State’s Office with notification of the promotion.

• Amount of the bond is to be the market value or the represented value, whichever is greater, of all gifts or prizes represented as available under the promotion.
• Bond must be issued by a surety company authorized to do business in North Carolina.
• Bond is to be in favor of the State of North Carolina and will benefit any person entitled to receive a gift or prize under the promotion who did not receive it within thirty (30) days of the specified date of award.