Md. Code Regs. 33.13.15.13

Current through Register Vol. 51, No. 24, December 2, 2024

Section 33.13.15.13 - Mergers and Acquisitions

A. Acquisition. If a political action committee acquires, merges with, or takes control of another political action committee and is the surviving entity in the transaction, the prior transfers made by the non-surviving entity will not be retroactively attributed to the surviving entity.

B. Newly Formed Entity. If a political action committee merges with another political action committee to form a new political action committee, the prior transfers made by each of the non-surviving political action committees will be attributed to the newly formed political action committee. If, as a result of such attribution, the prior transfers to a particular political committee exceed the applicable contribution limit under Election law Article, Title 13, Annotated Code of Maryland, and this subtitle, the political committee shall not be required to return any amounts attributed to the newly formed political action committee that exceed the applicable contribution limit, but the newly formed political action committee may not make a further transfer to that political committee.

Regulation .13 adopted effective 46:9 Md. R. 445, eff. 5/6/2019