§ 5-11 Use of Receipts.
RCNY § 5-11
(a)Bank accounts.
(i)Candidates must maintain a committee account with check writing privileges. Checks issued from such account must be signed by the candidate or an individual so authorized by the candidate.
(ii)Candidates must maintain a bank account in the name of the principal or authorized committee. Such bank account: (A) must be used for the deposit of receipts, including public funds, and the making of expenditures, for the covered election; (B) must be used exclusively for the purpose of furthering the candidate's nomination or election in the covered election, and for post-election expenditures as provided in subdivision (c) of this section; and (C) must not contain personal, business, or other non-campaign funds.
(iii)Receipts accepted by a participant for one election may not be commingled in an account with receipts accepted for another election, with receipts accepted for a TIE, or with personal or business funds. Notwithstanding the foregoing, participants: (A) may use one account for both the primary and general election in the same calendar year; (B) may open a segregated account pursuant to 52 RCNY § 7-07(b); (C) must use a court-ordered rerun account for public funds received for a court-ordered rerun election; and (D) must use a merchant account for the purpose of accepting credit card contributions pursuant to 52 RCNY § 4-01(b)(ii)(A)(4)(II).
(iv)Separate accounts for different elections. A candidate seeking election both to an office subject to the Act and to a state or federal office may maintain a separate allocation account for shared expenses in accordance with Advisory Opinion No. 1996-2 (July 18, 1996).
(v)Deposit of receipts. All monetary contributions must be accepted and deposited into the account(s) listed on the candidate's Registration or Certification and in disclosure statements filed with the Board, or rejected and returned to a contributor, within 20 business days after receipt, except contributions made in the form of cash must be accepted and deposited, or rejected and returned to a contributor, within 10 business days after receipt. All monetary receipts accepted for an election must be deposited into the candidate's authorized committee bank account. A monetary receipt is received on the date it is delivered to the candidate.
(b)Receipts may be used only for the covered election. A candidate may use receipts only for the covered election for which that account was established.
(c)Post-election use of receipts.
