(1) In addition to establishing a political committee to receive campaign contributions, a campaign for City elective office may establish a separate committee to solicit and receive contributions to a litigation fund. The name of such separate committee shall include the terms "Litigation Fund".
(2) A litigation fund may be used solely to pay professional fees and related costs incurred in defense of a civil, criminal, or administrative proceeding arising directly out of the conduct of the candidate's election campaign or arising directly out of the candidate's participation in the election (such as a recount proceeding), including, but not limited to, an investigation or enforcement action initiated by the Board of Ethics with respect to the conduct of the candidate's campaign. A litigation fund may not be used to pay any judgment, settlement, fine, sanction, or other type of penalty arising out of any such proceeding.
(3) A candidate shall establish a single committee to receive and expend litigation funds for the purposes set forth in subsection (2), above, and a single separate checking account for such purposes, except that this shall not prohibit a candidate from making expenditures from that candidate's candidate political committee for the purposes set forth in subsection (2), above. The Board of Ethics shall by regulation require a candidate to provide the Board with such information as the Board deems necessary to identify the candidate's litigation fund committee and checking account, within such period of time as the Board specifies.
(4) Each litigation fund committee shall have a treasurer who shall be responsible for keeping records of contributions and expenditures to the same extent and in the same detail that records of contributions and expenditures must be kept by the candidate's candidate political committee and campaign pursuant to this Chapter or applicable State law.
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