[Code of Federal Regulations]
[Title 11, Volume 1]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 11CFR116.11]

[Page 244-245]
 
                       TITLE 11--FEDERAL ELECTIONS
 
                 CHAPTER I--FEDERAL ELECTION COMMISSION
 
PART 116_DEBTS OWED BY CANDIDATES AND POLITICAL COMMITTEES--Table of Contents
 
Sec.  116.11  Restriction on an authorized committee's repayment of personal 

loans exceeding $250,000 made by the candidate to the authorized committee.

    (a) For purposes of this part, personal loans mean a loan or loans, 
including advances, made by a candidate, using personal funds, as 
defined in 11 CFR 100.33, to his or her authorized committee where the 
proceeds of the loan were used in connection with the candidate's 
campaign for election. Personal loans also include loans made to a 
candidate's authorized committee that are endorsed or guaranteed by the 
candidate or that are secured by the candidate's personal funds.
    (b) For personal loans that, in the aggregate, exceed $250,000 in 
connection with an election, the authorized committee:
    (1) May repay the entire amount of the personal loans using 
contributions to the candidate or the candidate's authorized committee 
provided that those contributions were made on the day of the election 
or before;
    (2) May repay up to $250,000 of the personal loans from 
contributions made to the candidate or the candidate's authorized 
committee after the date of the election; and
    (3) Must not repay, directly or indirectly, the aggregate amount of 
the personal loans that exceeds $250,000, from contributions to the 
candidate or the candidate's authorized committee if those contributions 
were made after the date of the election.
    (c) If the aggregate outstanding balance of the personal loans 
exceeds $250,000 after the election, the authorized political committee 
must comply with the following conditions:
    (1) If the authorized committee uses the amount of cash on hand as 
of the day after the election to repay all or part of the personal 
loans, it must do so within 20 days of the election.
    (2) Within 20 days of the election date, the authorized committee 
must

[[Page 245]]

treat the portion of the aggregate outstanding balance of the personal 
loans that exceeds $250,000 minus the amount of cash on hand as of the 
day after the election used to repay the loan as a contribution by the 
candidate.
    (3) The candidate's principal campaign committee must report the 
transactions in paragraphs (c)(1) and (c)(2) of this section in the 
first report scheduled to be filed after the election pursuant to 11 CFR 
104.5(a) or (b).
    (d) This section applies separately to each election.

[68 FR 3996, Jan. 27, 2003]