§ 163-278.8. Detailed accounts to be kept by political treasurers.
§ 163‑278.8. Detailedaccounts to be kept by political treasurers.
(a) The treasurer ofeach candidate, political committee, and referendum committee shall keepdetailed accounts, current within not more than seven days after the date ofreceiving a contribution or making an expenditure, of all contributionsreceived and all expenditures made by or on behalf of the candidate, politicalcommittee, or referendum committee. The accounts shall include the informationrequired by the State Board of Elections on its forms.
(b) Accounts kept bythe treasurer of a candidate, political committee, or referendum committee orthe accounts of a treasurer or political committee at any bank or otherdepository listed under G.S. 163‑278.7(b)(7), may be inspected, before orafter the election to which the accounts refer, by a member, designee, agent,attorney or employee of the Board who is making an investigation pursuant toG.S. 163‑278.22.
(c) Repealed by SessionLaws 2004‑125, s. 5(a), effective July 20, 2004, and applicable tocontributions made on or after January 1, 2003.
(d) Repealed by SessionLaws 2006‑195, s. 4, effective January 1, 2007, and applicable to allcontributions made and accepted on or after that date.
(e) All expendituresfor media expenses shall be made by a verifiable form of payment. The StateBoard of Elections shall prescribe methods to ensure an audit trail for everyexpenditure so that the identity of each payee can be determined. All mediaexpenditures in any amount shall be accounted for and reported individually andseparately with specific descriptions to provide a reasonable understanding ofthe expenditure.
(f) All expendituresfor nonmedia expenses (except postage) of more than fifty dollars ($50.00)shall be made by a verifiable form of payment. The State Board of Electionsshall prescribe methods to ensure an audit trail for every expenditure so thatthe identity of each payee can be determined. All expenditures for nonmediaexpenses of fifty dollars ($50.00) or less may be made by check or by cashpayment. All nonmedia expenditures of more than fifty dollars ($50.00) shall beaccounted for and reported individually and separately with a specificdescription to provide a reasonable understanding of the expenditure, butexpenditures of fifty dollars ($50.00) or less may be accounted for andreported in an aggregated amount, but in that case the treasurer shall accountfor and report that the treasurer made expenditures of fifty dollars ($50.00)or less each, the amounts, dates, and the purposes for which made. In the caseof a nonmedia expenditure required to be accounted for individually andseparately with a specific description to provide a reasonable understanding ofthe expenditure by this subsection, if the expenditure was to an individual,the report shall list the name and address of the individual.
(g) All proceeds fromloans shall be recorded separately with a detailed analysis reflecting theamount of the loan, the source, the period, the rate of interest, and thesecurity pledged, if any, and all makers and endorsers.
(h) The treasurer shallmaintain all moneys of the political committee in a bank account or bankaccounts used exclusively by the political committee and shall not comminglethose funds with any other moneys. (1973, c. 1272, s. 1; 1977, c. 635, s. 1; 1979, c.1073, ss. 16, 20; 1981, c. 814, s. 1; 1985, c. 353, ss. 1, 2; 1993 (Reg. Sess.,1994), c. 744, s. 1; 1999‑424, s. 7(m); 2004‑125, s. 5(a); 2005‑430,ss. 2, 3; 2006‑161, ss. 2, 3; 2006‑195, s. 4; 2008‑150, s.10(a).)