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New Jersey Regulations § 19:25-10.16 Contributions by electronic transfer of funds

⤴ Up to Subchapter 10: Contribution Reporting

Regulation Text

(a) A candidate committee, joint candidates committee, political committee, continuing political committee, political party committee, or legislative leadership committee may receive a contribution made by means of an electronic transfer of funds, including a credit card, provided that:
1. The date of receipt of a contribution made by an electronic transfer of funds, including a credit card, is the date on which the account owner or credit card owner authorizes that the contribution be charged to the owner's account or credit card;
2. The amount of the contribution is the total amount that the account owner or credit card owner authorizes to be charged to the account;
3. The account used to make the contribution made by an electronic transfer of funds or a credit card must be owned by the individual contributor or other entity making the contribution; and
4. The campaign or organizational treasurer shall make and maintain records required pursuant to 19:25-7.1 for each contribution received by means of an electronic transfer of funds or credit card.
(b) Any fees or costs imposed upon a candidate committee, joint candidates committee, political committee, continuing political committee, political party committee, or legislative leadership committee by a financial institution as a result of receipt of a contribution by means of an electronic transfer of funds or credit card must be reported by the candidate or committee as an expenditure to the financial institution.
(c) Contributions received by means of an electronic transfer of funds or credit card shall be deposited directly into a campaign or organizational depository.

History

New Rule, R.1999 d.300, effective 9/7/1999 . See: 31 New Jersey Register 1446(a), 31 New Jersey Register 2627(b). Amended by R.2000 d.322, effective 8/7/2000 . See: 32 New Jersey Register 1291(a), 32 New Jersey Register 2930(a). In (a) and (b), inserted references to political committees.

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