R 168.358 Joint fundraising; general; written agreement.

3 Rule 8. (1) A committee may hold a joint fundraiser with 1 or more persons, other than an individual, as long as the percentage of the receipts received and expenditures made in connection with the event do not exceed any applicable contribution limit or allow for any prohibited contributions to any of the participants. (2) Before the date of a joint fundraiser, participants must sign a written agreement, and a copy of the agreement must be retained with each committee’s records for 5 years and available on request. The written agreement must do all of the following: (a) Describe as a percentage of what each participant’s receipt and expenditure share is, subject to limitations in the act, using either of the following breakdowns: (i) Joint fundraisers between candidate committees or any committee type that has a contribution limit must share receipts and expenditures proportionately, so that the committee’s expenditures are an equivalent percentage to that committee’s contributions and other receipts. (ii) Committee types that are allowed to receive unlimited contributions and contribute to each other, such as political action committees and political party committees or independent expenditure committees and ballot question committees, can share receipts and expenditures disproportionately. (b) Specify whether each committee will pay the committee’s proportional share when each expenditure is made or 1 participant will make all the expenditures and receive reimbursement, within a reasonable amount of time as specified in the agreement, from the other participants for the participant’s proportional share of the expenditure. (c) Designate a joint account established in a bank, credit union, or savings and loan association that will be used as the committee’s secondary depository for the joint fundraiser.