§1057-A.__Appointment of treasurer; record-keeping requirements

1.__Appointment of treasurer.__A political action committee required to register under section 1053 must appoint a treasurer before accepting any contributions or making any expenditures.__ The treasurer shall file all reports required under this subchapter and under section 1019 and shall retain all records of the political action committee required under this subchapter for a minimum of 4 years.

2.__Appointment of deputy treasurer.__A political action committee may appoint a deputy treasurer.__In the absence of the treasurer, the deputy treasurer has the same powers and responsibilities as the treasurer.__The political action committee must report the name and address of the deputy treasurer to the commission no later than l0 business days after the appointment of the deputy treasurer.

3.__Committee expenditures.__Only the treasurer or deputy treasurer may make expenditures on behalf of the political action committee.

4.__Segregated funds.__All funds of a political action committee must be segregated from and may not be commingled with any personal funds of the treasurer, other officer or member of the committee.__Personal funds of the treasurer, other officer or member of the committee used to support the committee must be recorded and reported to the treasurer as contributions to the political action committee.

5.__Report of contributions and expenditures.__A person who receives a contribution for the political action committee must report that contribution to the treasurer within 5 business days of the receipt.

A.__A person who receives a contribution in excess of $10 for the political action committee must report to the treasurer the amount of the contribution, the name and mailing address of the person making the contribution and the date on which the contribution was received.

B.__If the contribution is more than $50, the record of the contribution must include the occupation, employer and business address, if any, of the donor.

6.__Record keeping.__The treasurer of a political action committee must keep detailed records of all contributions