(1) Each independent expenditure committee required to register under this chapter shall designate a treasurer to comply with the registration and reporting requirements under this subchapter. (2) The treasurer shall ensure that all funds received are de- posited in the independent expenditure committee depository account. (3) (a) No disbursement may be made or obligation incurred by or on behalf of an independent expenditure committee without the authorization of the treasurer or a designated agent. (b) An independent expenditure committee may not make a contribution to a committee, other than a referendum committee or another independent expenditure committee. (4) The treasurer shall maintain the records of the independent expenditure committee in an organized and legible manner for not less than 3 years after the date of the election in which the independent expenditure committee participates. (5) A person may register more than one independent expenditure committee under this subchapter.
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