1. (A) A loan is considered a contribution from the maker or the guarantors of the loan and is subject to the contribution limitations of this article.
2. (B) A loan to a candidate must be by written agreement.

3. (C) The proceeds of a loan made to a candidate under the following conditions are not subject to the contribution limits of this article:

   1. (1) by a commercial lending institution;
   2. (2) in the regular course of business;
   3. (3) on the same terms ordinarily available to members of the public; and
   4. (4) secured or guaranteed upon which collection is not made.

HISTORY: 1991 Act No. 248, Section 3, eff January 1, 1992 and governs only transactions which take place after December 31, 1991. UNITED STATES SUPREME COURT Governmental regulation of financing of political campaign as violating free speech or press clause of Federal Constitution's First Amendment--Supreme Court cases. 108 L Ed 2d 1017.