Section 169.245 - Transfer of unexpended funds; funds transferred not considered qualifying contribution; disbursement of funds ineligible for transfer. - Michigan Statutes

MICHIGAN CAMPAIGN FINANCE ACT (EXCERPT)
Act 388 of 1976

169.245 Transfer of unexpended funds; funds transferred not considered qualifying contribution; disbursement of funds ineligible for transfer.

Sec. 45.

(1) A person may transfer any unexpended funds from 1 candidate committee to another candidate committee of that person if the contribution limits prescribed in section 52 or 69 for the candidate committee receiving the funds are equal to or greater than the contribution limits for the candidate committee transferring the funds and if the candidate committees are simultaneously held by the same person. The funds being transferred shall not be considered a qualifying contribution regardless of the amount of the individual contribution being transferred.

(2) Upon termination of a candidate committee, unexpended funds in the candidate committee that are not eligible for transfer to another candidate committee of the person under subsection (1) shall be disbursed as follows:

(a) Given to a political party committee.

(b) Given to a tax exempt charitable organization, as long as the candidate does not become an officer or director of or receive compensation, either directly or indirectly, from that organization.

(c) Returned to the contributors of the funds upon termination of the campaign committee.

(d) If the person was a candidate for the office of state representative, given to a house political party caucus committee.

(e) If the person was a candidate for the office of state senator, given to a senate political party caucus committee.

(f) Given to an independent committee.

(g) Given to a ballot question committee.

History: 1976, Act 388, Eff. June 1, 1977 ;-- Am. 1978, Act 632, Imd. Eff. Jan. 8, 1979 ;-- Am. 1996, Act 590, Eff. Mar. 31, 1997