In this chapter, the following term has the meaning indicated. Terms Defined. “Financial Institution” has the meaning stated in Financial Institutions Article, §1-101(i), Annotated Code of Maryland. “Third-Party Payment Processor” has the meaning stated in Financial Institute Article, §1-101(x)(2)(ii)(2), Annotated Code of Maryland. This chapter applies to the campaign account of a political committee under Election Law Article, §§13-218(b) and 13-220, Annotated Code of Maryland. Campaign Account Required. Promptly after filing a Statement of Organization with the State Board, a political committee shall: Establish at a financial institution a checking account that will serve as the campaign account; Register with the financial institution the campaign account in a manner that identifies it as the account of a political committee; and Designate the responsible officers' access to the campaign account. Other Permissible Accounts or Investments. A political committee may, in addition to the checking account required in §A of this regulation, establish additional accounts or temporarily invest campaign funds as provided in this section. Permissible accounts or investments are limited to: Deposit accounts at a financial institution that are insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Administration (NCUA); Certificates of deposit with a stated rate of interest and a term of 3 years or less; Obligations of the U.S. Government or its agencies with maturities of 3 years or less; and Cash management accounts, money market accounts, or money market mutual funds that are offered and available to the general public. Use of Other Permissible Accounts or Investments. Any funds transferred from the registered campaign account into an FDIC-insured deposit account or temporary investment vehicle shall be returned to the registered campaign account before such funds may be used to make expenditures. Presence in State. The financial institution shall have a business office or business agent located in the State. Required Use of Campaign Account. Except otherwise expressly authorized by statute, all transactions by the political committee shall be conducted through the registered campaign account. Use of Payment Processors. If a contribution to a campaign finance entity is made through a Third-Party Payment Processor, the campaign finance entity shall initiate the transfer of the contribution from the account of the Third-Party Payment Processor to the designated campaign account of the campaign finance entity within 7 days after the contribution is deposited in the account of the Third-Party Payment Processor. Method of Disbursements. Except as provided in §B of this regulation, a political committee shall make all disbursements from the authorized designated campaign account of the political committee by: Order check; Counter check; Debit card issued by a financial institution; Electronic funds transfer (EFT); Electronic check; or Wire transfer. Other Permissible Disbursements. A political committee may: Authorize an individual to make payments from personal funds on behalf of the political committee provided that individual is fully reimbursed by the political committee; or Make a disbursement from a petty cash fund only if the political committee: Established the petty cash fund prior to the disbursement; and Follows the requirements in Election Law Article, §13-220(c), Annotated Code of Maryland. Disbursements by Treasurer. Except as provided in §D of this regulation, the treasurer shall authorize all disbursements for the political committee. Disbursements by Chair. The chair of a political committee may approve a disbursement on behalf of the political committee in the manner prescribed under Election Law Article, §13-220(b), Annotated Code of Maryland, only if the treasurer is temporarily unable to perform the duties of the office due to: Medical emergency or disability; Death in the family; Extended travel out of the State; or Any other extenuating circumstances existing to justify the chair's assumption of the treasurer's duties. A political committee may not: Use the personal account of the candidate or any responsible officer as the campaign account; Invest campaign funds in any investment vehicles other than those listed in Regulation .03B of this chapter. Use one of the following for making expenditures: Cash, except for authorized disbursements pursuant to Election Law Article, §13-220(c), Annotated Code of Maryland; Credit card; Money order; or Any other method not authorized by law. Use a third-party payment processor as a campaign account or a financial institution. Requirement. A political committee shall maintain and retain an account book of the campaign finance activity of the political committee. Campaign finance reports are not considered the account book of the political committee. All disbursement or expenditures entries in the account book shall be supported by: Receipts or invoices from the vendor; or Contracts for services provided. Contents. The account book shall have detailed and accurate records of all: Assets received, including ticket sales, in-kind contributions transfers to the committee, and any other income received by the political committee; Disbursements and expenditures made; Obligations incurred by or on behalf of the political committee, including loan consent agreements; and Other records used in the preparation of campaign finance reports, including any correspondence sent to a contributor requesting employer and occupation information. For every asset received and expenditure made, the account book shall have: The amount or value of the asset received or expenditure made; The date of the asset received or expenditure made; The name and address of the person from whom the asset was received or to whom the expenditure was made; and A description of the asset received or the purpose for which the expenditure was made. Retention and Inspection. The State Board may request to inspect and receive a copy of all account books and related records of account book entries. All account books and related records of account book entries must be: Retained and available for inspection until the earlier of: 10 years after the creation of an account book entry or related records; or 2 years after the political committee files its final campaign finance report. Stored and retained by the political committee in: The original format of the record production; A photocopy of the original format of the record production; or A scanned pdf format of the record production. Election Law Article, §2-102(b)(4) and Title 13, Subtitle 2, Part IV, Annotated Code of Maryland Effective date: Regulations .01—.05 adopted effective October 18, 2010 (37:21 Md. R. 1439) Regulation .01 amended effective February 29, 2016 (43:4 Md. R. 336); October 27, 2025 (52:21 Md. R. 1026) Regulation .03 amended effective March 19, 2012 (39:5 Md. R. 385) Regulation .03B amended effective January 9, 2012 (38:27 Md. R. 1765); July 23, 2012 (39:14 Md. R. 839) Regulation .03F adopted effective October 27, 2025 (52:21 Md. R. 1026) Regulation .04A amended effective January 9, 2012 (38:27 Md. R. 1765) Regulation .04C, D amended effective October 13, 2025 (52:20 Md. R. 1003) Regulation .05B amended effective March 19, 2012 (39:5 Md. R. 385) Regulation .05C amended effective January 9, 2012 (38:27 Md. R. 1765) Regulation .05D adopted effective October 27, 2025 (52:21 Md. R. 1026) Regulation .06 adopted effective February 29, 2016 (43:4 Md. R. 336)