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 elections for utility boards, labor union boards, and corporate boards.

(b) A group or nongroup entity with a designated campaign depository as required by 2 AAC 50.298 must use that depository to pay all expenses associated with the group's or nongroup entity's efforts to influence, directly or indirectly, the outcome of state or local elections.

(c) Unused contributions that a candidate is holding for a future election campaign under AS 15.13.116 (a)(7) may be invested if the investment does not violate AS 15.13.112 (b), does not result in any personal benefit, and cannot reasonably be understood to influence official duties or actions.

(d) An investment under (c) of this section must

(1) be an arms-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 arms-length transactions; and

(4) be evidenced by a written instrument.

(e) As used in AS 15.13.112 (b) for the purposes of (6) and (7) of that subsection, "campaign contributions held by a candidate or group"

(1) means campaign contributions held by a candidate or by a group that is considered under AS 15.13.400 to be controlled by a candidate; and

(2) does not include campaign contributions held by a group other than one that is considered under AS 15.13.400 to be controlled by a candidate.

History: Eff. 1/1/2001, Register 156; am 2/20/2005, Register 173

Authority: AS 15.13.010

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