§ 7-6-210 — Reports of contributions - Personal loans

(a) (1) The transfer of a candidate's own personal funds to his or her campaign shall be reported as either a loan from the candidate to his or her campaign or a contribution from the candidate to his or her campaign. (2) In the event the transfer of such funds is reported as a loan from the candidate to his or her campaign, the campaign funds may be used to repay the candidate for the funds loaned by the candidate to his or her campaign. (3) In the event the transfer of the funds is reported as a contribution from the candidate to his or her campaign, the campaign funds may not be used to reimburse the candidate for the funds contributed by the candidate to his or her campaign. (b) (1) A personal loan made to a candidate by a financial institution that is applied toward a candidate's campaign shall be reported as a loan from the candidate to his or her campaign. (2) The name of the financial institution, the amount of the loan, and the name of the guarantor, if any, also shall be reported.

Legislative History

Acts 1975, No. 788, § 3; 1977, No. 312, § 1; A.S.A. 1947, § 3-1111; Acts 1987, No. 246, § 2; 2009, No. 1204, § 6.