(1)    Each conduit required to register under this chapter shall designate an administrator to comply with the registration and reporting requirements under this subchapter.

   (2)   The administrator shall ensure that all funds received are deposited in the conduit depository account.

   (3)   Except as provided in s. 11.0705, the conduit administrator may release a contribution to a committee only upon the contributor’s direction.

   (4)   The administrator shall maintain the records of the conduit in an organized and legible manner for not less than 3 years after the date of the election in which the conduit participates.