Sec 16-902. Organization of political committees

A. Each political committee shall have a chairman and treasurer. The position of chairman and treasurer of a single political committee may not be held by the same individual, except that a candidate may be chairman and treasurer of the candidate's own campaign committee.

B. The name of each political committee shall include the name of any sponsoring organization, and, in the case of a candidate's campaign committee, the committee's name shall include the name of the candidate, or, if for an exploratory committee, the individual, who designated the committee pursuant to section 16-903.

C. A political committee that accepts contributions or makes expenditures shall deposit contributions and make expenditures from one or more state banks, federally chartered depository institutions or depository institutions the deposits or accounts of which are insured by the federal deposit insurance corporation or the national credit union administration as its campaign depository or depositories. The political committee shall notify the filing officer of the name of the financial institution at the time of filing the statement of organization pursuant to section 16-902.01 or 16-903. On meeting the definition of political committee pursuant to section 16-901, all withdrawals or disbursements from these accounts require the signature of the treasurer or a designated agent of the political committee.