1902                                       LAWS OF MARYLAND                                    Ch. 510

campaign certain loans to be in writing, to contain certain
information, and to be reported in a certain manner; and
generally relating to loans to election campaigns.

BY repealing and reenacting, with amendments,

Article 33 - Election Code

Section 26-8(b)

Annotated Code of Maryland

(1983 Replacement Volume and 1985 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF

MARYLAND, That the Laws of Maryland read as follows:

Article 33 - Election Code

26-8.

(b) (1) No loan may be made to the campaign of a candidate,
or accepted on behalf of the campaign, without the express
written consent of the candidate. Written consent constitutes
the personal guarantee of the candidate for repayment of the loan
only if it expressly so provides. A copy of the consent shall be
furnished to the lender at the time of the loan and attached to
the appropriate campaign fund report required by §§ 26-11 and
26-12 of this article.

(2) THE TERMS OF ANY LOAN TO THE CAMPAIGN OF A
CANDIDATE, OR ACCEPTED ON BEHALF OF THE CAMPAIGN OR POLITICAL
COMMITTEE, OTHER THAN THE LOAN OF A CANDIDATE TO HIS TREASURER OR
THE TREASURER OF HIS COMMITTEE, SHALL:                                               

(I)  BE IN WRITING;

(II)  INCLUDE THE LENDER'S NAME, ADDRESS, AND
SIGNATURE;

(III) INCLUDE THE CANDIDATE'S SIGNATURE;

(IV) (III) STATE THE SCHEDULE FOR REPAYMENT OF
THE LOAN;

(V) (IV) STATE THE INTEREST RATE OF THE LOAN;
AND

(VI) (V) BE ATTACHED TO THE APPROPRIATE
CAMPAIGN FUND REPORT.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall

take effect July 1, 1986 January 1, 1987.
Approved May 13, 1986.