Loan documentation [Effective July 1, 2027].

Del. Code tit. 15, § 8013
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
(a) A loan made to a political committee must be documented by a written record that includes all of the following: (1) The lender’s name, address, and signature. (2) A statement of the schedule for repayment of the loan. (3) A statement of the interest rate of the loan. (b) A candidate may not charge interest on a loan made by a candidate to the candidate’s own candidate committee. (c) A political committee shall attach the written record required under subsection (a) of this section to a report required under subchapter IV of this chapter. (d) The following applies to the proceeds of a loan subject to the requirement of subsection (a) of this section: (1) The proceeds of the loan must be deposited into the political committee’s designated account within 3 business days of receipt of the proceeds. (2) The proceeds of the loan must not be held in a candidate’s personal account at a financial institution or in the account of another person.
Source: DE Code (Official Site)URL: https://delcode.delaware.gov/title15/c080/sc02/index.htmlFetched: 10/4/2026
Del. Code tit. 15, § 8013 — Loan documentation [Effective July 1, 2027] | Delaware Code | Corpus