Telephone Seller Registration and Bond

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) or more, the telephonic seller is to notify the Secretary of State in writing of the details of the promotion. The details required are: The nature of the gifts or prizes The number (quantity) of gifts or prizes The current market value of the total gifts or prizes A copy of the rules and regulations governing the promotion The date the gifts or prizes are to be awarded Within forty-five (45) days after the specified date of the award of the gifts or prizes, the seller is to provide, in writing, to the Secretary of State, proof that the gifts or prizes were awarded. The writing shall include: Names of winners Addresses of winners Telephone numbers of winners here is no form for these written notifications, please use your letterhead to provide the information required. In addition to this document, the telephonic seller must post a bond with the Secretary for the market value or the represented value, whichever is greater, of all gifts or prizes represented as available under the promotion. The bond must be issued by a surety company authorized to do business in this State and be in favor of the State of North Carolina for the benefit of 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. The Bond shall be maintained until the Secretary receives reliable proof that the gifts or prizes have been delivered to the intended recipients.