Iowa Admin. Code r. 351-4.26

Current through Register Vol. 47, No. 10, November 13, 2024

Rule 351-4.26 - Transfers between candidates

(1)Transfer of assets between different candidates. A candidate's committee may transfer an asset to a candidate's committee established by a different candidate so long as the recipient committee pays the transferring committee the fair market value of the asset and the transaction is properly disclosed on each committee's disclosure report.

(2)Transfer of assets for same candidate. A candidate's committee may transfer funds, assets, loans, and debts to a committee established for a different office when the same candidate established both committees. A candidate seeking to transfer funds, assets, loans, or debts under this subrule shall file either an amended statement of organization disclosing information for the new office sought or register a new committee regardless of whether the $1,000 financial filing threshold for the new office will be exceeded.

This rule is intended to implement Iowa Code section 68A.303.

Iowa Admin. Code r. 351-4.26

ARC 7992B, lAB 7/29/09, effective 9/2/09

Amended by IAB March 24, 2021/Volume XLIII, Number 20, effective 4/28/2021