Oregon Statutes 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.
Terms Used In Oregon Statutes 260.054
- expenditure: includes the payment or furnishing of money or anything of value or the incurring or repayment of indebtedness or obligation by or on behalf of a candidate, political committee or person in consideration for any services, supplies, equipment or other thing of value performed or furnished for any reason, including support of or opposition to a candidate, political committee or measure, or for reducing the debt of a candidate for nomination or election to public office. See Oregon Statutes 260.005
- Person: means an individual, corporation, limited liability company, labor organization, association, firm, partnership, joint stock company, club, organization or other combination of individuals having collective capacity. See Oregon Statutes 260.005
- Petition committee: means an initiative, referendum or recall petition committee organized under ORS § 260. See Oregon Statutes 260.005
- Political committee: means a combination of two or more individuals, or a person other than an individual, that has:
(a) Received a contribution for the purpose of supporting or opposing a candidate, measure or political party; or
(b) Made an expenditure for the purpose of supporting or opposing a candidate, measure or political party. See Oregon Statutes 260.005
- Recall petition: means a petition to recall a public officer for which a prospective petition has been filed but that is not yet a measure. See Oregon Statutes 260.005
(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. [2005 c.809 § 3; 2007 c.570 § 8; 2009 c.818 § 7; 2017 c.749 § 34]