Section 260.054 - Political committee campaign account; petition committee petition account(1) Each political committee shall establish a single exclusive campaign account and each petition committee organized under ORS 260.118 shall establish a single exclusive petition account in a financial institution, as defined in ORS 706.008. The financial institution must be located in this state and must ordinarily conduct business with the general public in this state.(2) A political committee shall maintain the campaign account in the name of the political committee. A petition committee shall maintain the petition account in the name of the petition committee.(3) Except as provided in subsection (4) of this section:(a) All expenditures made by the political committee shall be drawn from the campaign account and: (A) Issued on a check signed by the candidate on whose behalf the account is established, by the treasurer of the political committee or by an individual designated by the candidate or treasurer; or(B) Paid using a debit card or other form of electronic transaction.(b) All expenditures made by the petition committee shall be drawn from the petition account and: (A) Issued on a check signed by the chief petitioner or treasurer of the petition committee or by an individual designated by the chief petitioner or treasurer; or(B) Paid using a debit card or other form of electronic transaction.(4) Subsection (3) of this section does not prohibit a person from making a cash or other expenditure on behalf of the political committee or petition committee and receiving reimbursement from the campaign or petition account.(5)(a) Not later than seven business days after the date the contribution is received:(A) A contribution received by a candidate or the treasurer of a political committee, directly or indirectly, shall be deposited into the campaign account.(B) A contribution received by a chief petitioner or treasurer of a petition committee, directly or indirectly, shall be deposited into the petition account.(b) This subsection does not apply to in-kind contributions received by a candidate, political committee or petition committee.(6) This section does not prohibit the transfer of any amount deposited in a campaign or petition account into a certificate of deposit, stock fund or other investment instrument.(7) A campaign or petition account may not include any private moneys, other than contributions received by the political committee or petition committee.(8) A political committee or petition committee shall retain a copy of each financial institution account statement from the campaign or petition account described in this section for not less than two years after the date the statement is issued by the financial institution.(9) This section does not apply to candidates described in ORS 260.043.(10) As used in this section, "contribution" and "expenditure" include a contribution or expenditure to or on behalf of an initiative, referendum or recall petition.Amended by 2017 Ch. 749, § 34, eff. 8/18/2017. 2005 c. 809, § 3; 2007 c. 570, § 8; 2009 c. 818, § 7