                                 CODE OF VIRGINIA

POLITICAL PARTY COMMITTEE TREASURER REQUIREMENTS AND RESPONSIBILITIES (§
24.2-950.3)

A. The treasurer shall keep detailed and accurate accounts of all contributions
turned over to and expenditures made by the political party committee, the
treasurer, or other officer on behalf of the political party committee, or
reported to the treasurer pursuant to this article. Such account shall set forth
the date of the contribution or expenditure, its amount or value, the name and
address of the person or committee making the contribution or to whom the
expenditure was made, and the object or purpose of the contribution or
expenditure.
			Such books and records may be destroyed or discarded at any time after (i)
one year from the date of filing the final report required by &#xA7; 24.2-950.9
or (ii) a period of three years, whichever first occurs, unless a court of
competent jurisdiction shall order their retention for a longer period.

B. All contributions and expenditures received or made by any political party
committee, or received or made on its behalf or in relation to the committee by
any person, except independent expenditures, shall be paid over or delivered to
the political party committee&#8217;s treasurer or shall be reported to the
treasurer in such detail and form as to allow him to comply fully with this
article. An independent expenditure shall be reported pursuant to &#xA7;
24.2-945.2 in lieu of being reported to the political party committee&#8217;s
treasurer.

C. It shall be unlawful for any political party committee, its treasurer, or any
person receiving contributions or making expenditures on the committee&#8217;s
behalf or in relation to the committee, to fail to report every contribution and
expenditure as required by this article.

D. No political party committee treasurer or other individual shall pay any
expense on behalf of the committee, directly or indirectly, except by a check or
electronic debit drawn on such designated depository identifying the name of the
political party committee. However, a treasurer or other authorized officer of
the political party committee may be reimbursed, by a check or electronic debit
drawn on the designated depository, for the payment of expenses (i) paid by him
by cash, check or electronic debit, or credit card, (ii) made on behalf of the
party committee, and (iii) fully documented by complete records of the
expenditure, maintained as required by this chapter, and including receipts
identifying the nature of the expenses and the names and addresses of each
person paid by the recipient of the reimbursement.

E. A treasurer of a political party committee (i) may establish a petty cash
fund to be utilized for the purpose of making expenditures or reimbursing
verified credit card expenditures of less than $200 if complete records of such
expenditures are maintained as required by this chapter and (ii) may transfer
funds from the designated campaign depository to an account or instrument to
earn interest on the funds so long as the transferred funds and earned interest
are returned to the designated depository account, complete records are
maintained, and all expenditures are made through the designated depository
account.

HISTORY: 2006, cc. 787, 892; 2020, c. 349.