68A.203 COMMITTEE TREASURER AND CHAIRPERSON --
DUTIES.
1. a. Every candidate's committee shall appoint a treasurer
who shall be an Iowa resident who has reached the age of majority.
Every political committee, state statutory political committee, and
county statutory political committee shall appoint both a treasurer
and a chairperson, each of whom shall have reached the age of
majority.
b. Every candidate's committee shall maintain all of the
committee's funds in bank accounts in a financial institution located
in Iowa. Every political committee, state statutory political
committee, and county statutory political committee shall either have
an Iowa resident as treasurer or maintain all of the committee's
funds in bank accounts in a financial institution located in Iowa.
c. An expenditure shall not be made by the treasurer or
treasurer's designee for or on behalf of a committee without the
approval of the chairperson of the committee, or the candidate.
Expenditures shall be remitted to the designated recipient within
fifteen days of the date of the issuance of the payment.
2. a. An individual who receives contributions for a
committee without the prior authorization of the chairperson of the
committee or the candidate shall be responsible for either rendering
the contributions to the treasurer within fifteen days of the date of
receipt of the contributions, or depositing the contributions in the
account maintained by the committee within seven days of the date of
receipt of the contributions.
b. A person, other than a candidate or committee officer, who
receives contributions for a committee shall, not later than fifteen
days from the date of receipt of the contributions or on demand of
the treasurer, render to the treasurer the contributions and an
account of the total of all contributions, including the name and
address of each person making a contribution in excess of ten
dollars, the amount of the contributions, and the date on which the
contributions were received.
c. The treasurer shall deposit all contributions within seven
days of receipt by the treasurer in an account maintained by the
committee.
d. All funds of a committee shall be segregated from any
other funds held by officers, members, or associates of the committee
or the committee's candidate. However, if a candidate's committee
receives contributions only from the candidate, or if a permanent
organization temporarily engages in activity that qualifies it as a
political committee and all expenditures of the organization are made
from existing general operating funds and funds are not solicited or
received for this purpose from sources other than operating funds,
then that committee is not required to maintain a separate account in
a financial institution.
e. Committee funds or committee property shall not be used
for the personal benefit of a candidate, officer, member, or
associate of the committee. The funds of a committee are not
attachable for the personal debt of the committee's candidate or an
officer, member, or associate of the committee.
3. The treasurer of a committee shall keep a detailed and exact
account of:
a. All contributions made to or for the committee.
b. The name and mailing address of every person making
contributions in excess of ten dollars, and the date and amount of
the contribution.
c. All disbursements made from contributions by or on behalf
of the committee.
d. The name and mailing address of every person to whom any
expenditure is made, the purpose of the expenditure, the date and
amount of the expenditure and the name and address of, and office
sought by each candidate, if any, on whose behalf the expenditure was
made. Notwithstanding this paragraph, the treasurer may keep a
miscellaneous account for disbursements of less than five dollars
which need only show the amount of the disbursement so long as the
aggregate miscellaneous disbursements to any one person during a
calendar year do not exceed one hundred dollars.
e. Notwithstanding the provisions of subsection 3, paragraph
"d", of this section, when an expenditure is made by a committee
in support of the entire state or local political party ticket, only
the name of the party shall be given.
4. The treasurer and candidate in the case of a candidate's
committee, and the treasurer and chairperson in the case of a
political committee, shall preserve all records required to be kept
by this section for a period of five years. However, a committee is
not required to preserve any records for more than three years from
the certified date of dissolution of the committee. For purposes of
this section, the five-year period shall commence with the due date
of the disclosure report covering the activity documented in the
records.
68A.203 COMMITTEE TREASURER AND CHAIRPERSON --
DUTIES.
1. a. Every candidate's committee shall appoint a treasurer
who shall be an Iowa resident who has reached the age of majority.
Every political committee, state statutory political committee, and
county statutory political committee shall appoint both a treasurer
and a chairperson, each of whom shall have reached the age of
majority.
b. Every candidate's committee shall maintain all of the
committee's funds in bank accounts in a financial institution located
in Iowa. Every political committee, state statutory political
committee, and county statutory political committee shall either have
an Iowa resident as treasurer or maintain all of the committee's
funds in bank accounts in a financial institution located in Iowa.
c. An expenditure shall not be made by the treasurer or
treasurer's designee for or on behalf of a committee without the
approval of the chairperson of the committee, or the candidate.
Expenditures shall be remitted to the designated recipient within
fifteen days of the date of the issuance of the payment.
2. a. An individual who receives contributions for a
committee without the prior authorization of the chairperson of the
committee or the candidate shall be responsible for either rendering
the contributions to the treasurer within fifteen days of the date of
receipt of the contributions, or depositing the contributions in the
account maintained by the committee within seven days of the date of
receipt of the contributions.
b. A person, other than a candidate or committee officer, who
receives contributions for a committee shall, not later than fifteen
days from the date of receipt of the contributions or on demand of
the treasurer, render to the treasurer the contributions and an
account of the total of all contributions, including the name and
address of each person making a contribution in excess of ten
dollars, the amount of the contributions, and the date on which the
contributions were received.
c. The treasurer shall deposit all contributions within seven
days of receipt by the treasurer in an account maintained by the
committee.
d. All funds of a committee shall be segregated from any
other funds held by officers, members, or associates of the committee
or the committee's candidate. However, if a candidate's committee
receives contributions only from the candidate, or if a permanent
organization temporarily engages in activity that qualifies it as a
political committee and all expenditures of the organization are made
from existing general operating funds and funds are not solicited or
received for this purpose from sources other than operating funds,
then that committee is not required to maintain a separate account in
a financial institution.
e. Committee funds or committee property shall not be used
for the personal benefit of a candidate, officer, member, or
associate of the committee. The funds of a committee are not
attachable for the personal debt of the committee's candidate or an
officer, member, or associate of the committee.
3. The treasurer of a committee shall keep a detailed and exact
account of:
a. All contributions made to or for the committee.
b. The name and mailing address of every person making
contributions in excess of ten dollars, and the date and amount of
the contribution.
c. All disbursements made from contributions by or on behalf
of the committee.
d. The name and mailing address of every person to whom any
expenditure is made, the purpose of the expenditure, the date and
amount of the expenditure and the name and address of, and office
sought by each candidate, if any, on whose behalf the expenditure was
made. Notwithstanding this paragraph, the treasurer may keep a
miscellaneous account for disbursements of less than five dollars
which need only show the amount of the disbursement so long as the
aggregate miscellaneous disbursements to any one person during a
calendar year do not exceed one hundred dollars.
e. Notwithstanding the provisions of subsection 3, paragraph
"d", of this section, when an expenditure is made by a committee
in support of the entire state or local political party ticket, only
the name of the party shall be given.
4. The treasurer and candidate in the case of a candidate's
committee, and the treasurer and chairperson in the case of a
political committee, shall preserve all records required to be kept
by this section for a period of five years. However, a committee is
not required to preserve any records for more than three years from
the certified date of dissolution of the committee. For purposes of
this section, the five-year period shall commence with the due date
of the disclosure report covering the activity documented in the
records.
68A.203 COMMITTEE TREASURER AND CHAIRPERSON --
DUTIES.
1. a. Every candidate's committee shall appoint a treasurer
who shall be an Iowa resident who has reached the age of majority.
Every political committee, state statutory political committee, and
county statutory political committee shall appoint both a treasurer
and a chairperson, each of whom shall have reached the age of
majority.
b. Every candidate's committee shall maintain all of the
committee's funds in bank accounts in a financial institution located
in Iowa. Every political committee, state statutory political
committee, and county statutory political committee shall either have
an Iowa resident as treasurer or maintain all of the committee's
funds in bank accounts in a financial institution located in Iowa.
c. An expenditure shall not be made by the treasurer or
treasurer's designee for or on behalf of a committee without the
approval of the chairperson of the committee, or the candidate.
Expenditures shall be remitted to the designated recipient within
fifteen days of the date of the issuance of the payment.
2. a. An individual who receives contributions for a
committee without the prior authorization of the chairperson of the
committee or the candidate shall be responsible for either rendering
the contributions to the treasurer within fifteen days of the date of
receipt of the contributions, or depositing the contributions in the
account maintained by the committee within seven days of the date of
receipt of the contributions.
b. A person, other than a candidate or committee officer, who
receives contributions for a committee shall, not later than fifteen
days from the date of receipt of the contributions or on demand of
the treasurer, render to the treasurer the contributions and an
account of the total of all contributions, including the name and
address of each person making a contribution in excess of ten
dollars, the amount of the contributions, and the date on which the
contributions were received.
c. The treasurer shall deposit all contributions within seven
days of receipt by the treasurer in an account maintained by the
committee.
d. All funds of a committee shall be segregated from any
other funds held by officers, members, or associates of the committee
or the committee's candidate. However, if a candidate's committee
receives contributions only from the candidate, or if a permanent
organization temporarily engages in activity that qualifies it as a
political committee and all expenditures of the organization are made
from existing general operating funds and funds are not solicited or
received for this purpose from sources other than operating funds,
then that committee is not required to maintain a separate account in
a financial institution.
e. Committee funds or committee property shall not be used
for the personal benefit of a candidate, officer, member, or
associate of the committee. The funds of a committee are not
attachable for the personal debt of the committee's candidate or an
officer, member, or associate of the committee.
3. The treasurer of a committee shall keep a detailed and exact
account of:
a. All contributions made to or for the committee.
b. The name and mailing address of every person making
contributions in excess of ten dollars, and the date and amount of
the contribution.
c. All disbursements made from contributions by or on behalf
of the committee.
d. The name and mailing address of every person to whom any
expenditure is made, the purpose of the expenditure, the date and
amount of the expenditure and the name and address of, and office
sought by each candidate, if any, on whose behalf the expenditure was
made. Notwithstanding this paragraph, the treasurer may keep a
miscellaneous account for disbursements of less than five dollars
which need only show the amount of the disbursement so long as the
aggregate miscellaneous disbursements to any one person during a
calendar year do not exceed one hundred dollars.
e. Notwithstanding the provisions of subsection 3, paragraph
"d", of this section, when an expenditure is made by a committee
in support of the entire state or local political party ticket, only
the name of the party shall be given.
4. The treasurer and candidate in the case of a candidate's
committee, and the treasurer and chairperson in the case of a
political committee, shall preserve all records required to be kept
by this section for a period of five years. However, a committee is
not required to preserve any records for more than three years from
the certified date of dissolution of the committee. For purposes of
this section, the five-year period shall commence with the due date
of the disclosure report covering the activity documented in the
records.
