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Current as of January 02, 2025 | Updated by Findlaw Staff
Personal funds of a candidate means the sum of all of the following:
(a) Assets. Amounts derived from any asset that, under applicable State law, at the time the individual became a candidate, the candidate had legal right of access to or control over, and with respect to which the candidate had—
(1) Legal and rightful title; or
(2) An equitable interest;
(b) Income. Income received during the current election cycle, of the candidate, including:
(1) A salary and other earned income that the candidate earns from bona fide employment;
(2) Income from the candidate's stocks or other investments including interest, dividends, or proceeds from the sale or liquidation of such stocks or investments;
(3) Bequests to the candidate;
(4) Income from trusts established before the beginning of the election cycle;
(5) Income from trusts established by bequest after the beginning of the election cycle of which the candidate is the beneficiary;
(6) Gifts of a personal nature that had been customarily received by the candidate prior to the beginning of the election cycle; and
(7) Proceeds from lotteries and similar legal games of chance; and
(c) Jointly owned assets. Amounts derived from a portion of assets that are owned jointly by the candidate and the candidate's spouse as follows:
(1) The portion of assets that is equal to the candidate's share of the asset under the instrument of conveyance or ownership; provided, however,
(2) If no specific share is indicated by an instrument of conveyance or ownership, the value of one-half of the property.
Cite this article: FindLaw.com - Code of Federal Regulations Title 11. Federal Elections § 11.100.33 Personal funds - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-11-federal-elections/cfr-sect-11-100-33/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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