ETH 1.32(1)(b)(b) When a contribution is made in the name of a partnership, the registrant must obtain the information as to each partner’s share thereof within 30 days after receiving the contribution or return the contribution. ETH 1.32 HistoryHistory: Cr. Register, June, 1977, No. 258, eff. 7-1-77. ETH 1.33ETH 1.33 Retirement of campaign debts incurred to business creditors. ETH 1.33(1)(1) As used in this section “an obligation incurred by a registrant to a business creditor” means an obligation incurred by the registrant for goods or services. ETH 1.33(2)(2) An obligation incurred by a registrant to a business creditor will be treated as a contribution of the creditor if any part of the obligation is outstanding for a period longer than that consistent with normal business or trade practice, or if the obligation is settled for less than the outstanding debt, unless a showing is made to the registrant’s filing officer that the creditor has treated the obligation in a commercially reasonable manner. Such a showing must include at least the following: ETH 1.33(2)(a)(a) The initial extension of credit on which the obligation was incurred was made in the ordinary course of business with terms substantially similar to those granted to non-political debtors of similar credit risk; and ETH 1.33(2)(b)(b) The creditor has made all reasonable efforts to retire the debt, including pursuit of all remedies which would normally be employed by the creditor in pursuit of a non-political debtor. “Reasonable efforts to retire the debt” include lawsuits, if filed in similar circumstances. ETH 1.33 HistoryHistory: Cr. Register, August, 1977, No. 260, eff. 9-1-77. ETH 1.385ETH 1.385 Return of contributions to contributors by candidates when candidates file nomination papers for offices that have lower contribution limits than the limits that applied at the time of the contributions. A candidate shall be subject to the contribution limits that apply to the candidate at the time of the primary election at which the candidate’s name appears on the ballot. If a candidate for any office has unspent contributions in his or her campaign depository at the time of filing nomination papers that were lawful at the time of receipt but exceeded the contribution limit that applies to the office for which the candidate is seeking nomination, the candidate shall dispose of the unspent contributions. The candidate shall either return the excess contribution to the contributor on a reasonable basis that the candidate determines or donate the excess contribution to either the common school fund or a charitable organization. ETH 1.385 HistoryHistory: Emerg. cr. eff. 6-1-86; cr. Register, November, 1986, No. 371, eff. 12-1-86. ETH 1.39ETH 1.39 Conversion of federal campaign committee to state committee prohibited. ETH 1.39(1)(a)(a) “Federal campaign committee” means the campaign committee of a candidate for federal office, which is not registered with a state or local filing officer, and ETH 1.39(1)(b)(b) “State campaign committee” means the candidate committee of a candidate for state or local office. ETH 1.39(2)(a)(a) A candidate’s federal campaign committee may not be converted to a state campaign committee. ETH 1.39(2)(b)(b) A candidate’s federal campaign committee may contribute funds collected for federal purposes to the candidate’s state or local campaign, not to exceed the maximum amount that may be contributed by a single committee to a candidate for the same office under ss. 11.1101, 11.1103, 11.1104, and 11.1105, Stats., by filing a campaign finance registration statement, pursuant to ss. 11.0501, 11.0502, and 11.0503, Stats., with the appropriate filing officer. ETH 1.56ETH 1.56 Commercial sales by political registrants. ETH 1.56(1)(1) When a registrant receives donated items for resale the proceeds from the resale transaction shall be reported in the following manner: ETH 1.56(1)(a)(a) The receipt of the item shall be reported in the registrant’s campaign finance report as an in-kind contribution and as an in-kind expenditure at the fair market value of the donated item; ETH 1.56(1)(b)(b) The resale of the item shall be reported in the registrant’s campaign finance report as a contribution from the purchaser in the amount paid by the purchaser. ETH 1.56(1)(c)(c) The registrant must make a good faith effort to accurately reflect the fair market value of the item in its campaign finance report. ETH 1.56(2)(2) When a registrant sells an item which it has purchased for resale to raise funds, the entire amount of the proceeds of the sale shall be reported in the registrant’s campaign finance report as a contribution from the purchaser. ETH 1.56(3)(3) The proceeds from the sale of food and beverage at a fundraiser by a registrant shall be reported in the registrant’s campaign finance report as a contribution from the purchaser. ETH 1.56(5)(5) When a registrant disposes of tangible assets of the campaign by sale in a regular commercial transaction for fair market value, the proceeds of the sale shall be reported as “other income” in the registrant’s campaign finance reports.