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2002 SESSION
020671552Be it enacted by the General Assembly of Virginia:
1. That § 24.2-905 of the Code of Virginia is amended and reenacted as follows:
§ 24.2-905. Campaign depositories; reimbursements of expenses; petty cash fund.
All funds and monetary contributions received by the candidate or his campaign
committee, as soon as practicable after receipt thereof, shall be deposited by
the treasurer in the designated campaign depository in an account properly
identifying the name of and the existence of the political candidacy. No
candidate, campaign treasurer, or other individual shall pay any expense on
behalf of a candidate, directly or indirectly, except by a check drawn on such
designated depository identifying the name of the campaign committee and
candidate. However, a candidate, treasurer, or other authorized member of the
candidate's campaign staff may be reimbursed, by a check drawn on the designated
depository, for the payment of expenses (i) made on behalf of the campaign [ in
an amount not to exceed $1,000 ] and (ii) fully documented by complete records
of the expenditure, maintained as required by this chapter, and including receipts identifying
the nature of the expenses and the names and addresses of each person paid by
the recipient of the reimbursement. In addition, a treasurer (ia) may establish
a petty cash fund to be utilized for the purpose of making expenditures or reimbursing verified credit card
expenditures of less than one hundred dollars if complete records of such
expenditures are maintained as required by this chapter and (iib) may transfer
funds from the designated campaign depository to an account or instrument to earn interest on the
funds so long as the transferred funds and earned interest are returned to the
designated depository account, complete records are maintained, and all
expenditures are made through the designated depository account.