Minnesota Statutes 10A.241 – Transfer of Debts
Terms Used In Minnesota Statutes 10A.241
- Candidate: means an individual who seeks nomination or election as a state constitutional officer, legislator, or judge. See Minnesota Statutes 10A.01
- Contribution: includes a loan or advance of credit to a political committee, political fund, principal campaign committee, local candidate, or party unit, if the loan or advance of credit is: (1) forgiven; or (2) repaid by an individual or an association other than the political committee, political fund, principal campaign committee, local candidate, or party unit to which the loan or advance of credit was made. See Minnesota Statutes 10A.01
- Loan: means an advance of money or anything of value made to a political committee, political fund, principal campaign committee, local candidate, or party unit. See Minnesota Statutes 10A.01
- Principal: means an individual or association that:
(1) spends more than $500 in the aggregate in any calendar year to engage a lobbyist, compensate a lobbyist, or authorize the expenditure of money by a lobbyist; or
(2) is not included in clause (1) and spends a total of at least $50,000 in any calendar year on efforts to influence legislative action, administrative action, or the official action of metropolitan governmental units, as described in section 10A. See Minnesota Statutes 10A.01
- Principal campaign committee: means a principal campaign committee formed under section 10A. See Minnesota Statutes 10A.01
- state: extends to and includes the District of Columbia and the several territories. See Minnesota Statutes 645.44
A candidate may terminate the candidate’s principal campaign committee for one state office by transferring any debts of that committee to the candidate’s principal campaign committee for another state office if all outstanding unpaid bills or loans from the committee being terminated are assumed and continuously reported by the committee to which the transfer is being made until paid or forgiven. A loan that is forgiven is covered by section 10A.20 and is a contribution to the principal campaign committee from which the debt was transferred under this section.