(A) Every campaign finance entity shall maintain a separate bank account for deposit of all campaign contributions. Each such bank account shall be opened in accordance with all applicable state and federal banking laws and shall:
(1) Be in a financial institution; and
(2) Be registered in a manner that identifies it as the account of a campaign finance entity.
(B) The bank account described in division (A) above shall be administered by the treasurer of the campaign finance entity.
(C) All assets received by or on behalf of a campaign finance entity shall be delivered to the treasurer, who shall deposit all funds received in a designated campaign account.
(D) The bank account created pursuant to this section is subject to the reporting requirements set forth in this chapter.
(E) The bank account created pursuant to this section need not be closed. It may remain open, and funds accumulated therein may be used, unless or until the associated campaign finance entity is closed in accordance with this chapter and any surplus funds are disposed of in accordance with this chapter.
(Ord. 01-2014, passed 4-7-2014)