32 KAR 2:130. Monetary contributions made in a format other than cash, and refunds

      Section 1. (1) If a candidate, slate of candidates, committee, or anyone on their behalf receives a contribution prohibited by the provisions of KRS 121.150, the candidate, slate of candidates, or committee shall have thirty (30) days from the date the contribution is deposited in the campaign account to refund the contribution.

      (2) A refund made in compliance with subsection (1) of this section shall constitute compliance with the provisions of KRS 121.150.

      (3) All contributions not otherwise refunded in accordance with subsection (1) of this section shall be considered accepted by the candidate, slate of candidates, or committee, as applicable.

 

      Section 2. A candidate, slates of candidates, campaign committee, or a person acting on their behalf, shall not accept a monetary contribution in any format in excess of the maximum cash contribution limit contained in KRS 121.150(4) unless the contribution generates a paper or electronic record that clearly identifies both the payor and payee. (19 Ky.R. 2519; Am. 20 Ky.R. 51; eff. 7-12-93; 37 Ky.R. 2256; eff. 6-3-11.)

Notation

      RELATES TO: KRS 121.150

      STATUTORY AUTHORITY: KRS 121.120(1)(g)

      NECESSITY, FUNCTION, AND CONFORMITY: KRS 121.120(1)(g) authorizes the Registry to promulgate administrative regulations necessary to carry out the provisions of KRS Chapter 121. This administrative regulation establishes requirements for monetary contributions made in a format other than by cash, and refunds of contributions.