1. (a) Money received by a candidate or committee as a contribution may be used only:

   1. (1) to defray any expense reasonably related to the person's or committee's:

      1. (A) campaign for federal, state, legislative, or local office;
      2. (B) continuing political activity; or
      3. (C) activity related to service in an elected office;
   2. (2) to make an expenditure to any national, state, or local committee of any political party or another candidate's committee; or
   3. (3) upon dissolution of a committee, in a manner permitted under IC 3-9-1-12 .
2. (b) Money received by a candidate or committee as a contribution may not be used for primarily personal purposes by the candidate or by any other person except as described in subsection (a).
3. (c) Money received as a contribution may be invested by a committee in an account with a financial institution, savings association, or credit union, or in any equity account. Any loss resulting from an investment under this subsection must be reported as a committee expenditure. Any gain resulting from an investment under this subsection must be reported as income.

As added by P.L.13-1987, SEC.2. Amended by P.L.3-1993, SEC.87; P.L.3-1995, SEC.70; P.L.79-1998, SEC.1.