§ 13-247. Disposition of surplus funds

   After all campaign expenditures have been made and before filing a final campaign finance report under Subtitle 3 of this title, any remaining balance in the account of a campaign finance entity shall be returned pro rata to the contributors or paid to:

   (1) if the campaign finance entity is a personal treasurer or a political committee formed to support a candidate or act for a political party:

      (i) the State central committee of the political party:

         1. of which the candidate is a member; or

         2. for which the political committee is acting;

      (ii) the local central committee of the political party:

         1. of which the candidate is a member in a county in which the candidate resides or which the candidate seeks to represent; or

         2. for which the political committee is acting;

      (iii) the board of education of a county in which the candidate resides or which the candidate seeks to represent;

   (2) a nonprofit organization that provides services or funds for the benefit of pupils or teachers;

   (3) a charitable organization registered or exempt from registration under the Maryland Charitable Solicitations Act; or

   (4) a public or private institution of higher education in the State if:

      (i) that institution possesses a certificate of approval from the Maryland Higher Education Commission; and

      (ii) the payment is designated for use by the institution solely to award scholarships, grants, or loans to students attending the institution.

HISTORY: An. Code 1957, art. 33, § 13-206(d); 2002, ch. 291, § 4.