1. (a) This section applies to the following candidates:

   1. (1) A candidate for a local office for which the compensation is less than five thousand dollars ($5,000) per year.
   2. (2) A candidate for a school board office.
2. (b) A candidate shall have a principal committee.

3. (c) Not later than noon ten (10) days after either:

   1. (1) the candidate receives more than five hundred dollars ($500) in contributions; or

   2. (2) the candidate makes more than five hundred dollars ($500) in expenditures;

      whichever occurs first, the candidate shall file a written instrument designating the name of the principal committee and the names of the chairman and treasurer of the committee.

4. (d) This designation may be made on the same instrument as the statement of organization required from the principal committee.

As added by P.L.26-2000, SEC.10.