7 CAR § 3-131 – Retirement of past campaign debts

(a)
1. (1) Candidates and officeholders are permitted to raise funds to retire campaign debts from prior campaigns.
2. (2) Funds can be raised after a current campaign has ended or during a current campaign, provided the notice requirements of 7 CAR § 3-130(g) are fulfilled.
3. (3) If there is another ongoing campaign account, candidates or officeholders should ensure that a separate account is established for the purpose of retiring the prior campaign debts.
4. (4) Remaining campaign funds from a current campaign account, however, may be used to retire the debt, as explained in subsections (b) and (d) of this section, provided the candidate has ended the current campaign and the debt relates to personal loans to a prior campaign.
(b) If a candidate or officeholder desires to raise funds to retire a prior debt at a time when a different campaign is ongoing, the candidate or officeholder must ensure that the notice explains that the debt to be retired relates to a specific prior campaign and not the current ongoing campaign.
(c) A candidate whose prior campaign debts relate to funds or personal loans and the repayment of such debts or loans would be in the form of reimbursement to the candidate may wait until the current campaign has ended and use remaining campaigning funds to repay prior campaign loans the candidate may have made to his or her campaign.
(d)
1. (1) A candidate whose prior campaign debts relate to funds other than personal loans or personal contributions may not use remaining campaigning funds from a current campaign to repay debts relating to a different campaign.
2. (2) Instead, the candidate must retire the prior debt in the manner described in 7 CAR § 3-130.