Section 2 AAC 50.348 - Use of campaign contributions(a) A candidate, group, or nongroup entity may not make an expenditure from a campaign account in connection with a private election such as an election for a utility board, a labor union board, or a corporate board.(b) A candidate, group, or nongroup entity shall use a designated campaign depository required under 2 AAC 50.298 to pay all expenses associated with the group's or nongroup entity's efforts to influence, directly or indirectly, the outcome of a state or municipal election, or an initiative proposal application.(c) A candidate may invest any unused contribution that is being held for a future election campaign under AS 15.13.116(a)(7) if the investment(1) does not violate AS 15.13.112(b);(2) does not result in any personal benefit; and(3) cannot reasonably be understood to influence official duties or actions.(d) An investment under (c) of this section must(1) be an arm's length commercial transaction made on terms comparable with all other investors;(2) comply with applicable financial laws and regulations;(3) bear the regular rates and charges for arm's length transactions; and(4) be evidenced by a written instrument.(e) In AS 15.13.112(b), "campaign contributions held by a candidate or group" means campaign contributions held by a candidate or by a group that is a controlled group as provided in 2 AAC 50.290(c).Eff. 1/1/2001, Register 156; am 2/20/2005, Register 173; am 12/22/2011, Register 200Authority:AS 15.13.010
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