Section 13-247 - Disposition of surplus funds. - Maryland Statutes

§ 13-247. Disposition of surplus funds.
 

After all campaign expenditures have been made and before filing a final campaign finance report under Subtitle 3 of this title, any remaining balance in the account of a campaign finance entity shall be returned pro rata to the contributors or paid to: 

(1) if the campaign finance entity is a personal treasurer or a political committee formed to support a candidate or act for a political party: 

(i) the State central committee of the political party: 

1. of which the candidate is a member; or 

2. for which the political committee is acting; 

(ii) the local central committee of the political party: 

1. of which the candidate is a member in a county in which the candidate resides or which the candidate seeks to represent; or 

2. for which the political committee is acting; 

(iii) the board of education of a county in which the candidate resides or which the candidate seeks to represent; 

(2) a nonprofit organization that provides services or funds for the benefit of pupils or teachers; 

(3) a charitable organization registered or exempt from registration under the Maryland Charitable Solicitations Act; or 

(4) a public or private institution of higher education in the State if: 

(i) that institution possesses a certificate of approval from the Maryland Higher Education Commission; and 

(ii) the payment is designated for use by the institution solely to award scholarships, grants, or loans to students attending the institution. 
 

[An. Code 1957, art. 33, § 13-206(d); 2002, ch. 291, § 4.]