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This entry was published on 2016-09-30
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SECTION 14-118
Treasurer and depository of political committee; filing of name and address
Election (ELN) CHAPTER 17, ARTICLE 14, TITLE 1
§ 14-118. Treasurer and depository of political committee; filing of
name and address. 1. Every political committee shall have a treasurer
and a depository, and shall cause the treasurer to keep detailed, bound
accounts of all receipts, transfers, loans, liabilities, contributions
and expenditures, made by the committee or any of its officers, members
or agents acting under its authority or in its behalf. All such accounts
shall be retained by a treasurer for a period of five years from the
date of the filing of the final statement with respect to the election,
primary election or convention to which they pertain. No officer, member
or agent of any political committee shall receive any receipt, transfer
or contribution, or make any expenditure or incur any liability until
the committee shall have chosen a treasurer and depository and filed
their names in accordance with this subdivision. There shall be filed in
the office in which the committee is required to file its statements
under section 14-110 of this article, within five days after the choice
of a treasurer and depository, a statement giving the name and address
of the treasurer chosen, the name and address of any person authorized
to sign checks by such treasurer, the name and address of the depository
chosen and the candidate or candidates or ballot proposal or proposals
the success or defeat of which the committee is to aid or take part;
provided, however, that such statement shall not be required of a
constituted committee and provided further that a political action
committee which makes no expenditures, to aid or take part in the
election or defeat of a candidate, other than in the form of
contributions, shall not be required to list the candidates being
supported or opposed by such committee and shall also disclose the name
and employer for any individual who exerts operational control over the
political action committee as well as any salaried employee of the
political action committee. Such statement shall be signed by the
treasurer and all other persons authorized to sign checks. Any change in
the information required in any statement shall be reported, in an
amended statement filed in the same manner and in the same office as an
original statement filed under this section, within two days after it
occurs, except that any change to the mailing address on any such
statement filed at the state board may also be made in any manner deemed
acceptable by the state board. Only a banking organization authorized to
do business in this state may be designated a depository hereunder.

2. No candidate, political committee, or agent thereof may receive
from any one person an aggregate amount greater than one hundred dollars
except in the form of a check, draft or other instrument payable to the
candidate, political committee or treasurer and signed or endorsed by
the donor; except that such a candidate, political committee or agent
may receive contributions in amounts greater than one hundred dollars
which are made by credit card, provided that such candidate, political
committee or agent preserves, together with the other accounts which
such candidate, committee or agent is required to preserve pursuant to
the provisions of this article, a copy of the document which was
submitted to secure payment of the funds so contributed. All such
checks, drafts or other instruments shall be deposited in the account of
the candidate or committee in the designated depository. No candidate or
political committee shall expend an amount in excess of one hundred
dollars except by check drawn on the depository and signed by the
candidate or person authorized to sign checks by him or in the case of a
political committee, the treasurer or a person authorized to sign checks
by him.

3. (a) Every candidate who receives or expends any money or other
valuable thing or incurs any liability to pay money or its equivalent
shall keep and retain detailed, bound accounts as provided in
subdivision one of this section.

(b) Every candidate required to file sworn statements pursuant to
subdivision one of section 14-104 of this article, other than a
candidate who has filed a statement in lieu thereof at or before the
first filing period as set forth in that section, shall file, in the
office or offices in which he or she is required to file his or her
statements under section 14-110 of this article, on a form prescribed by
the state board for such purposes, a statement providing the name and
address of the depository at which they maintain the accounts from which
he or she conducts his or her own campaign financial activity.