68A.402B - COMMITTEE DISSOLUTION OR INACTIVITY.
68A.402B COMMITTEE DISSOLUTION OR INACTIVITY.
1. If a committee, after having filed a statement of organization
or one or more disclosure reports, dissolves or determines that it
will no longer receive contributions or make disbursements, the
committee shall notify the board within thirty days following such
dissolution or determination by filing a dissolution report on forms
prescribed by the board.
2. A committee shall not dissolve until all loans, debts, and
obligations are paid, forgiven, or transferred and the remaining
moneys in the committee's account are distributed according to
sections 68A.302 and 68A.303. If a loan is transferred or forgiven,
the amount of the transferred or forgiven loan must be reported as an
in-kind contribution and deducted from the loans payable balance on
the disclosure form. If, upon review of a committee's statement of
dissolution and final report, the board determines that the
requirements for dissolution have been satisfied, the dissolution
shall be certified and the committee relieved of further filing
requirements. Section History: Recent Form
2004 Acts, ch 1114, §3; 2005 Acts, ch 72, §12