16-915.01. Disposal of surplus monies; transfer of debt
- A political committee shall dispose of surplus monies only as follows:
- Retain surplus monies for use in a subsequent election, which includes a transfer by an individual's exploratory committee or a candidate's campaign committee to that individual's subsequent exploratory committee or that candidate's campaign committee designated for a subsequent election.
- Return surplus monies to the contributor to the extent records are available permitting such return.
- Contribute surplus monies to the county, state or local committee of a political party.
- Donate the surplus monies to a charitable organization that qualifies under section 501(c)(3) of the United States internal revenue code.
- In the case of a political committee other than an individual's exploratory committee or a candidate's committee, contribute surplus monies to a candidate's campaign committee if the contribution is within the limitations of section 16-905.
- Donate surplus monies to a political committee other than an individual's exploratory committee or to a candidate's campaign committee.
- Dispose of the surplus monies in any other lawful manner.
- Surplus monies shall not be used for or converted to the personal use of the designating individual, in the case of an individual's exploratory committee, or a candidate, in the case of a candidate's campaign committee, or any person related to the candidate by blood or marriage. Nothing in this subsection precludes the repayment of a loan made by the designating individual or candidate to his campaign.
- An individual's exploratory committee or a candidate's campaign committee may transfer its debts and obligations to that individual's subsequent exploratory committee or that candidate's campaign committee designated for a subsequent election.
WARNING - The above text was curent June 2003,
but may be outdated now.