§1491.5. Maintenance of records; valuation of in-kind contributions and expenditures
A. The chairman of each committee and the treasurer shall be responsible for
providing and maintaining such records of the finances of the committee as are necessary to
comply with the provisions of this Part, including but not limited to the records specifically
required by this Section.
B.
(1)Except as otherwise provided in this Section, the treasurer of each committee
shall keep such records of contributions received and accepted by him or a deputy treasurer
as shall be necessary to comply with the provisions of this Part, including the names and
addresses of all contributors, and the date of each contribution, the amount or value of the
contribution of whatever value, and a description and valuation of
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§1491.5. Maintenance of records; valuation of in-kind contributions and expenditures
A. The chairman of each committee and the treasurer shall be responsible for
providing and maintaining such records of the finances of the committee as are necessary to
comply with the provisions of this Part, including but not limited to the records specifically
required by this Section.
B.(1) Except as otherwise provided in this Section, the treasurer of each committee
shall keep such records of contributions received and accepted by him or a deputy treasurer
as shall be necessary to comply with the provisions of this Part, including the names and
addresses of all contributors, and the date of each contribution, the amount or value of the
contribution of whatever value, and a description and valuation of all in-kind contributions.
(2) Payments made to purchase raffle tickets or paraphernalia, other than
expenditures made by a committee for its own paraphernalia, and payments for tickets to
testimonials and similar fundraising events are contributions, and records thereof shall be
maintained, provided that:
(a) In the case of any single transaction involving the sale of raffle tickets or
paraphernalia which is for an amount not in excess of fifty dollars and the proceeds of which
are received and deposited by a political committee, no record need be kept by the treasurer
for such recipient committee, except the total amount received and deposited from such sale
and the fact that such amount was received from such sale.
(b) No person shall sell or buy raffle tickets or paraphernalia in successive single
transactions for amounts below those for which specific records are required by this
Paragraph as a subterfuge to avoid requirements of this Part that names and addresses of
contributors and dates and amounts of contributions be recorded, aggregated, and reported.
Such transactions shall be considered single transactions and shall be recorded and reported
as provided in this Part. Any person who violates the provisions of this Section shall be
subject to the penalties provided in R.S. 18:1505.4, 1505.5, and 1505.6.
(3) The treasurer of each committee shall also keep such records of campaign
expenditures made or contracted as shall be necessary to comply with the provisions of this
Part, including the name and address of the person or firm from whom goods or services
were purchased or contracted, the date, the amount or value and the purpose of the
expenditure, a description of the goods or services purchased or contracted, and a description
and valuation of all in-kind expenditures.
(4) All transactions involving the sale of tickets to a testimonial or similar
fundraising event shall be evidenced by a record of the names and addresses of the
purchasers, the amount of tickets purchased, and the value of the tickets purchased.
C. The valuation of in-kind contributions or expenditures shall be the estimated fair
market value thereof at the time received and expended.
D. A record shall be kept of all expenditures made from the petty cash fund for
which provision is made in R.S. 18:1491.4, including the name and address of the person or
firm from whom goods or services were purchased or contracted, the amount and the purpose
of the expenditure, and a description of the goods or services purchased or contracted. In
addition, a receipt shall be kept for each such expenditure in any case in which a receipt
would normally be provided in the usual course of business.
E. A record shall be kept of each loan made by the committee to or from any person
or committee, together with the full name and address of the lender, of the recipient of the
proceeds of the loan, and of any person who makes any type of security agreement binding
himself or his property, directly or indirectly, for the repayment of all or any part of the loan.
In addition, a record shall be kept of the repayment of each such loan and of the source of
funds expended for repayment.
F. Repealed by Acts 1993, No. 199, §2, eff. June 1, 1993.
G. A record shall also be kept of:
(1) Cash investments and income received therefrom.
(2) All transfers of funds to or from another committee, the name and address of the
committee to or from which the transfer is made and the date and amount thereof.
(3) All debts and obligations.
(4) The amount and date of each anonymous contribution and the date each is
transmitted to the state as required by this Chapter.
(5) All other receipts, the name and address of the source, and the date and amount
thereof.
(6) All other disbursements, the name and address of the person to whom made and
the date and amount thereof.
H. Expenditures made by a public relations firm, an advertising agency, or agent for
a committee shall be considered expenditures of the committee and must be specifically
reported as required by this Part. Each such firm, agency, or agent shall timely furnish to
such committee such information relative thereto as may be required for compliance with this
Part. Failure by any such firm, agency, or agent to timely furnish a committee such
information required for compliance with this Part shall be grounds for a civil action for
damages.
I. A treasurer shall preserve records required by this Part for six years. However, a
treasurer for a committee which supports only one candidate shall preserve such records for
two years after the final report which he is required by this Part to file for the election has
been filed, including any supplemental reports required.
J. The accounts and records kept by a treasurer under the provisions of this Part shall
be available for inspection or use by the supervisory committee in connection with any
investigation pursuant to this Chapter, or by any grand jury or court in connection with any
proceeding instituted under the provisions of this Chapter; however, such accounts and
records shall be kept strictly confidential by the supervisory committee and any court, except
to the extent any contents thereof may become a public record in any judicial proceeding to
enforce the provisions of this Chapter.