16-906. Loans; repayments; guarantors
A. A loan to a political committee or to a candidate made for the purpose of
influencing an election that exceeds the lender's contribution limitations prescribed in
section 16-905 remains unlawful whether or not it is repaid.
B. A loan to a political committee or to a candidate made for the purpose of
influencing an election made within the contribution limitations prescribed in section
16-905 remains a contribution to the extent it remains unpaid. A loan is no longer a
contribution to the extent it is repaid.
C. Except as provided in subsection D of this section, the making of a loan that is
made for the purpose of influencing an election results in a contribution by each
endorser or guarantor. The endorser's or guarantor's contribution is that portion of the
total amount of the loan for which he agreed in writing to be liable or, if not stated in
writing, the contribution is in the same proportion to the unpaid balance that each
endorser or guarantor bears to the total number of endorsers or guarantors. Any
reduction in the unpaid balance of the loan reduces proportionately the amount of the
contribution of each endorser or guarantor.
D. A loan obtained by a candidate on which the candidate's spouse's signature is
required if jointly owned assets are used as collateral or security is not considered a
contribution from the candidate's spouse.
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