Iowa Code 68A.501 – Funds from unknown source — escheat
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Iowa Code 68A.501
- Board: means the Iowa ethics and campaign disclosure board established under section 68B. See Iowa Code 68A.102
- Candidate: means any individual who has taken affirmative action to seek nomination or election to a public office and shall also include any judge standing for retention in a judicial election. See Iowa Code 68A.102
- Committee: includes a political committee and a candidate's committee. See Iowa Code 68A.102
- Contribution: means :(1) A gift, loan, advance, deposit, rebate, refund, or transfer of money or a gift in kind. See Iowa Code 68A.102
- Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC
- Fundraising event: means any campaign function to which admission is charged or at which goods or services are sold. See Iowa Code 68A.102
- Person: means , without limitation, any individual, corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, labor union, or any other legal entity. See Iowa Code 68A.102
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
The expenditure of funds from an unknown or unidentifiable source received by a candidate or committee is prohibited. Such funds received by a candidate or committee shall escheat to the state. Any candidate or committee receiving such contributions shall remit such contributions to the board which shall forward it to the treasurer of state for deposit in the general fund of the state. Persons requested to make a contribution at a fundraising event shall be advised that it is illegal to make a contribution in excess of twenty-five dollars unless the person making the contribution also provides the person’s name and address.