111-1-03 Safe at home address confidentiality program.

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D EC 1 8 2001

111-1-3             Loan.

LS.C.

(A)  The term ? an" includes a guarantee, endorsement, and any other form of security.

(B)   A loan is a con?ibution at ?e time it is made and is a contribution to ?e extent ?at it remains unpaid. The aggregate amount loaned to a candidate or committee by a con?ibutor, when added to other contributions ?om ?at individual to that candidate or committee, shall not exceed the contribution limit set forth in section 3517.102 of the Revised Code. A loan, to ?e extent that it is repaid, is no longer a contribution.

(C)   Ifan individual, political action comm.ittee, political contributing entity political p?ty, campaign committee, or legislative campaign fund makes a loan to any candidate or committee, such loan shall be subject to ?e limitations set forth in section

3517.102 of the Revised Code. Repayment of the principal amount of such loan to any committee, fund, or p?ty shall not be a contribution by the debtor to the lender, committee, fund, or party. The payment of interest to such committee, fund or party by the debtor shall be a contribution only to ?e extent that the interest paid exceeds a commercially

reasonable rate prevailing at the time the loan is made.

(D) ?EXCEPT AS OTHERWISE PROVIDED ? DIVISIONS (1)(6) AND (1)(5)

OF SECTION 3517.992 OF THE REVISED CODE, A loan ??? THAT exceeds the contribution limits of section 3517.102 of the Revised Code shall be unlawful whether or not it is repaid.

(E)   Except as provided in this rule, a loan is a contribution by each endorser or guarantor. Each endorser or gu?·antor shall be deemed to have contributed that portion of the total ?nount of the loan for which he or she agreed to be liable in a written agreement. Any reduction in the unpaid balance of the loan shall reduce proortionately the amount endorsed or guaranteed by each endorser or gu?·antor in such written agreement. In the event that such agreement does not stipulate ?e portion of the loan for which each endorser or gu?antor is liable, the loan shall be considered a loan by each endorser or guarantor in the same proportion to the unpaid balance ?at each endorser or gu?antor bears to the total number of endorsers or guarantors. Ifa third p?ty other than the endorser or gu?antor repays all or part of any loan ?e ?nount of any or all payments made by that third p?ty constitutes a contribution by ?? third p?ty.

(F)   A candidate may obtain a loan on which his or her spouse's signature is required when joint assets ?e used as collateral or securi? for the loan. ?1e spouse shall not be considered a contributor to ?e candidate's campaign if the value of the candidate's share of

the prope?y used as collateral equals or exceeds the amount of the loan which is used for the candidate's campaign.

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(G)   A loan obtained by or for the benefit of a statewide, senate or house candidate shall be considered personal funds and subject to the provisions of section 3517.l 03 of the Revised Code to the extent ?at such loan is obtained by a statewide, senate or house candidate or for the benefit of such candidate by the candidate's spouse, p?ents, children, sons-in-law, daughters-in-law, brothers, sisters, grandparents, mothers-in-law,

fathers-in-law, brothers-in-law, sisters-in-law, or grandparents by marriage.

(H)   

.:  -..t 1             :··      ?   +: -? ? -n"n-.nl n-n..t :+ " :n- n.I??ee is not a

 

A loan of money by a state bar?,a federally chartered deposito? institution (including a national bar?),or a STATE CHARTERED depository institution whose deposits and accoun?are insured 9 ?c ?aefal ?etJes# iHstifafte see:a,?? f?  al

•t:iV          ··-·..u  ??·· ······,·.. _ M?.....-......-.-... --....?            ?_......  

contribution by the lending institution if such loan is made in accordance wi? applicable banking laws and regulations and is made in the ordinary co?se of business. A loan will be deemed to be made in the ordina?f  co?m of business if it:

(1) Bears the usual and customary interest rate of the lending institution for the ca?gory of loan involved;

(2) Is made on a basis which assures repayment;

(3) Is evidenced by a written instrument; and

(4) Is subject to a due date or amortization schedule.

(I)   Such loans shall be reported by the committee, party, or fund in accordance with division (B)(4)(e) of section 3517.10 of the Revised Code. For purposes of Chapter 3517. of the Revised Code, an overdraft made on a checking or savings account shall be considered a contribution by the bank or institution unless:

(1) ?1e overdraft is made on an account which is subject to automatic overdraft protection;

(2)  The overdraft is subject to immediate repayment; or

(3)   There is a definite repayment schedule'

Effective:   JAN O  1 ?E

R.C. 119.032 Review Dates: 6-29-01 JUL 0 1 2?

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?

I/Kenneth Blackwell,  Secretary of Sta:?

Date

?ft 1 fl 2or.

Promulgated under:	R.C.	119.03
Rule authorized by:	R.C.	3517.23
Rule amplifies:	R.C.	3517.10
		3517.102

Prior effective dates:   S-23-95(Emer.)

11-21-95

7-13-98 (Erner.)

9/24/98     I