[Code of Federal Regulations]

[Title 11, Volume 1]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 11CFR103.3]



[Page 97-98]

 

                       TITLE 11--FEDERAL ELECTIONS

 

                 CHAPTER I--FEDERAL ELECTION COMMISSION

 

PART 103_CAMPAIGN DEPOSITORIES (2 U.S.C. 432(h))--Table of Contents

 

Sec. 103.3  Deposit of receipts and disbursements (2 U.S.C. 432(h)(1)).



    (a) All receipts by a political committee shall be deposited in 

account(s) established pursuant to 11 CFR 103.2, except that any 

contribution may be, within 10 days of the treasurer's receipt, returned 

to the contributor without being deposited. The treasurer of the 

committee shall be responsible for making such deposits. All deposits 

shall be made within 10 days of the treasurer's receipt. A committee 

shall make all disbursements by check or similar drafts drawn on an 

account at its designated campaign depository, except for expenditures 

of $100 or less made from a petty cash fund maintained pursuant to 11 

CFR 102.11. Funds may be transferred from the depository for investment 

purposes, but shall be returned to the depository before such funds are 

used to make expenditures.

    (b) The treasurer shall be responsible for examining all 

contributions received for evidence of illegality and for ascertaining 

whether contributions received, when aggregated with other contributions 

from the same contributor, exceed the contribution limitations of 11 CFR 

110.1 or 110.2.

    (1) Contributions that present genuine questions as to whether they 

were made by corporations, labor organizations, foreign nationals, or 

Federal contractors may be, within ten days of the treasurer's receipt, 

either deposited into a campaign depository under 11 CFR 103.3(a) or 

returned to the contributor. If any such contribution is deposited, the 

treasurer shall make his or her best efforts to determine the legality 

of the contribution. The treasurer shall make at least one written or 

oral request for evidence of the legality of



[[Page 98]]



the contribution. Such evidence includes, but is not limited to, a 

written statement from the contributor explaining why the contribution 

is legal, or a written statement by the treasurer memorializing an oral 

communication explaining why the contribution is legal. If the 

contribution cannot be determined to be legal, the treasurer shall, 

within thirty days of the treasurer's receipt of the contribution, 

refund the contribution to the contributor.

    (2) If the treasurer in exercising his or her responsibilities under 

11 CFR 103.3(b) determined that at the time a contribution was received 

and deposited, it did not appear to be made by a corporation, labor 

organization, foreign national or Federal contractor, or made in the 

name of another, but later discovers that it is illegal based on new 

evidence not available to the political committee at the time of receipt 

and deposit, the treasurer shall refund the contribution to the 

contributor within thirty days of the date on which the illegality is 

discovered. If the political committee does not have sufficient funds to 

refund the contribution at the time the illegality is discovered, the 

political committee shall make the refund from the next funds it 

receives.

    (3) Contributions which on their face exceed the contribution 

limitations set forth in 11 CFR 110.1 or 110.2, and contributions which 

do not appear to be excessive on their face, but which exceed the 

contribution limits set forth in 11 CFR 110.1 or 110.2 when aggregated 

with other contributions from the same contributor, and contributions 

which cannot be accepted under the net debts outstanding provisions of 

11 CFR 110.1(b)(3) and 110.2(b)(3) may be either deposited into a 

campaign depository under 11 CFR 103.3(a) or returned to the 

contributor. If any such contribution is deposited, the treasurer may 

request redesignation or reattribution of the contribution by the 

contributor in accordance with 11 CFR 110.1(b), 110.1(k) or 110.2(b), as 

appropriate. If a redesignation or reattribution is not obtained, the 

treasurer shall, within sixty days of the treasurer's receipt of the 

contribution, refund the contribution to the contributor.

    (4) Any contribution which appears to be illegal under 11 CFR 

103.3(b) (1) or (3), and which is deposited into a campaign depository 

shall not be used for any disbursements by the political committee until 

the contribution has been determined to be legal. The political 

committee must either establish a separate account in a campaign 

depository for such contributions or maintain sufficient funds to make 

all such refunds.

    (5) If a contribution which appears to be illegal under 11 CFR 

103.3(b) (1) or (3) is deposited in a campaign depository, the treasurer 

shall make and retain a written record noting the basis for the 

appearance of illegality. A statement noting that the legality of the 

contribution is in question shall be included in the report noting the 

receipt of the contribution. If a contribution is refunded to the 

contributor because it cannot be determined to be legal, the treasurer 

shall note the refund on the report covering the reporting period in 

which the refund is made.



[52 FR 774, Jan. 9, 1987]