Minnesota Statutes 10A.243 – Termination of Registration
Subdivision 1.Termination report.
A political committee, political fund, principal campaign committee, or party unit may terminate its registration with the board after it has disposed of all its assets in excess of $100 by filing a final report of receipts and expenditures. The final report must be identified as a termination report and must include all financial transactions that occurred after the last date included on the most recent report filed with the board. The termination report may be filed at any time after the asset threshold in this section is reached.
Subd. 2.Asset disposition.
Terms Used In Minnesota Statutes 10A.243
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Association: means a group of two or more persons, who are not all members of an immediate family, acting in concert. See Minnesota Statutes 10A.01
- Board: means the state Campaign Finance and Public Disclosure Board. See Minnesota Statutes 10A.01
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- General treasury money: means money that an association other than a principal campaign committee, party unit, or political committee accumulates through membership dues and fees, donations to the association for its general purposes, and income from the operation of a business. See Minnesota Statutes 10A.01
- party unit: means the state committee, the party organization within a house of the legislature, or any other party organization designated by the chair of the political party in an annual certification of party units provided to the board. See Minnesota Statutes 10A.01
- Political committee: means an association whose major purpose is to influence the nomination or election of one or more candidates or local candidates or to promote or defeat a ballot question, other than a principal campaign committee, local candidate, or a political party unit. See Minnesota Statutes 10A.01
- Political fund: means an accumulation of dues or voluntary contributions by an association other than a political committee, principal campaign committee, or party unit, if the accumulation is collected or expended to influence the nomination or election of one or more candidates or local candidates or to promote or defeat a ballot question. See Minnesota Statutes 10A.01
- Principal: means an individual or association that:
(1) spends more than $500 in the aggregate in any calendar year to engage a lobbyist, compensate a lobbyist, or authorize the expenditure of money by a lobbyist; or
(2) is not included in clause (1) and spends a total of at least $50,000 in any calendar year on efforts to influence legislative action, administrative action, or the official action of metropolitan governmental units, as described in section 10A. See Minnesota Statutes 10A.01
Terms Used In Minnesota Statutes 10A.243
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Association: means a group of two or more persons, who are not all members of an immediate family, acting in concert. See Minnesota Statutes 10A.01
- Board: means the state Campaign Finance and Public Disclosure Board. See Minnesota Statutes 10A.01
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- General treasury money: means money that an association other than a principal campaign committee, party unit, or political committee accumulates through membership dues and fees, donations to the association for its general purposes, and income from the operation of a business. See Minnesota Statutes 10A.01
- party unit: means the state committee, the party organization within a house of the legislature, or any other party organization designated by the chair of the political party in an annual certification of party units provided to the board. See Minnesota Statutes 10A.01
- Political committee: means an association whose major purpose is to influence the nomination or election of one or more candidates or local candidates or to promote or defeat a ballot question, other than a principal campaign committee, local candidate, or a political party unit. See Minnesota Statutes 10A.01
- Political fund: means an accumulation of dues or voluntary contributions by an association other than a political committee, principal campaign committee, or party unit, if the accumulation is collected or expended to influence the nomination or election of one or more candidates or local candidates or to promote or defeat a ballot question. See Minnesota Statutes 10A.01
- Principal: means an individual or association that:
(1) spends more than $500 in the aggregate in any calendar year to engage a lobbyist, compensate a lobbyist, or authorize the expenditure of money by a lobbyist; or
(2) is not included in clause (1) and spends a total of at least $50,000 in any calendar year on efforts to influence legislative action, administrative action, or the official action of metropolitan governmental units, as described in section 10A. See Minnesota Statutes 10A.01
“Assets” include credit balances at vendors, prepaid postage and postage stamps, as well as physical assets. Assets must be disposed of at their fair market value. Assets of a political fund that consist of, or were acquired using, only the general treasury money of the fund’s supporting association remain the property of the association upon termination of the association’s political fund registration and are not subject to the disposal requirements of this section.