20A-11-402. Officeholder financial reporting requirements -- Termination of duty
to report.
(1) An officeholder is active and subject to reporting requirements until the officeholder
has filed a statement of dissolution with the lieutenant governor stating that:
(a) the officeholder is no longer receiving contributions or public service assistance and
is no longer making expenditures;
(b) the ending balance on the last summary report filed is zero and the balance in the
separate bank account required by Sections 20A-11-201 and 20A-11-301 is zero; and
(c) a final summary report in the form required by Section 20A-11-401 showing a zero
balance is attached to the statement of dissolution.
(2) A statement of dissolution and a final summary report may be filed at any time.
(3) Each officeholder shall continue to file the year-end summary report required by
Section 20A-11-401 until the statement of dissolution and final summary report required by this
section are filed with the lieutenant governor.
(4) (a) Except as provided in Subsection (4)(b), a person who is no longer an officeholder
may not expend or transfer the monies in a campaign account in a manner that would cause the
former officeholder to recognize the monies as taxable income under federal tax law.
(b) A person who is no longer an officeholder may transfer the monies in a campaign
account in a manner that would cause the former officeholder to recognize the monies as taxable
income under federal tax law if the transfer is made to a campaign account for federal office.
Amended by Chapter 227, 2009 General Session
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Last revised: Thursday, May 28, 2009