Sec. 2-308. - Loans to county candidates and their controlled committees.

(a)

A loan shall be considered a contribution from the maker and the guarantor of the loan and shall be subject to the contribution limitations of this article.

(b)

Personal loans from a county candidate to the candidate's own controlled committee shall not be subject to the contribution limitations of this article. A county candidate shall not charge interest on any loan the candidate made to the candidate's own controlled committee.

(c)

The proceeds of a loan made to a county candidate by a commercial lending institution in the regular course of business on the same terms available to members of the public shall not be subject to the contribution limitations of this article if the loan is made directly to the candidate. The guarantors of such a loan shall remain subject to the contribution limits of this article.

(d)

Extensions of credit (other than loans pursuant to Section 2-308(b)) for a period of more than thirty (30) days are subject to the contribution limitations of this article.

(e)

This section shall apply only to loans and extensions of credit used or intended for use for campaign purposes or which are otherwise connected with the holding of public office.

(Ord. No. 6389, § I, 8-30-2022)