(a) A loan to a campaign finance entity is considered a contribution in the amount of the outstanding principal balance of the loan unless: (1) the loan is from a financial institution or other entity in the business of making loans; or (2) the loan is to the campaign finance entity of a candidate and: (i) repayment of the loan is personally guaranteed by the candidate; and (ii) the election cycle immediately following the election cycle in which the loan was made has not ended. (b) (1) Subject to subsection (c)(2) of this section, uncharged interest on a loan is a contribution. (2) Uncharged interest is the amount by which, during a reporting period, the interest actually charged on the loan is less than the interest on the loan computed at the prime rate applicable on the day the loan was made. (c) (1) Subject to paragraph (2) of this subsection, the terms of a loan to a campaign finance entity shall: (i) be in writing; (ii) include the lender's name, address, and signature; (iii) state the schedule for repayment of the loan; (iv) state the interest rate of the loan; and (v) be attached to the campaign finance report required of the entity under Subtitle 3 of this title for the reporting period during which the loan was made. (2) (i) A loan by a candidate or the candidate's spouse to a campaign finance entity of the candidate is not required to comply with paragraph (1) of this subsection. (ii) Unless a loan by a candidate or the candidate's spouse to a campaign finance entity of the candidate complies with paragraph (1) of this subsection: 1. the loan may not accrue interest; 2. any interest foregone on the loan is not a contribution under subsection (b) of this section; and 3. the campaign finance entity is not subject to: A. § 13-310(a) and (b) of this title so long as the loan has an outstanding principal balance; and B. subsection (a)(2)(ii) of this section. (d) (1) A loan may not be made to a campaign finance entity of a candidate, or accepted on behalf of the entity, without the express written consent of the candidate. (2) The written consent of the candidate constitutes the personal guarantee of the candidate for repayment of the loan only if the document expressly so provides. (3) A copy of the candidate's written consent shall be: (i) furnished to the lender when the loan is made; and (ii) attached to the campaign finance report required of the entity under Subtitle 3 of this title for the reporting period during which the loan was made.
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