A. A committee that intends to terminate shall dispose of surplus monies as follows:

1. 1. Return surplus monies to the contributor.
2. 2. Contribute surplus monies pursuant to and within the limits prescribed in article 1.2 of this chapter.

3. 3. In the case of a candidate committee, contribute surplus monies to a candidate committee for another candidate under the following conditions:

   1. (a) The candidate committee makes the contribution after the time period for filing a nomination paper pursuant to section 16-311, subsection A.
   2. (b) The candidate associated with the candidate committee that makes the contribution did not file a nomination paper to run for election in the current election cycle.
   3. (c) In the case of a candidate committee for legislative office, the candidate committee makes the contribution when the legislature is not in regular legislative session.
   4. (d) The candidate committee makes the contribution within the limits prescribed for individuals in section 16-912.
4. 4. Donate surplus monies to a nonprofit organization that has tax exempt status under section 501(c)(3) of the internal revenue code.
5. 5. In the case of a statewide or legislative candidate committee and subject to section 41-133, transfer surplus monies to the candidate's officeholder expense account.