1. (a) The treasurer of a committee shall obtain and keep receipted bills, cancelled checks, or other proof of payment, stating the particulars for each expenditure made by or on behalf of a committee:

   1. (1) of more than twenty-five dollars ($25); and
   2. (2) for a smaller amount, if the aggregate amount of the expenditures to the same person during a year exceeds twenty-five dollars ($25).

2. (b) The treasurer shall preserve all receipted bills and accounts required to be kept by this section for:

   1. (1) three (3) years; or

   2. (2) one (1) year after the date of dissolution of the committee;

      whichever occurs first.

      [Pre-1986 Recodification Citation: 3-4-2-21.]

As added by P.L.5-1986, SEC.5. Amended by P.L.3-1987, SEC.142.