Candidates for elected state offices have limitations on contributions and must comply with certain candidacy requirements pursuant to Government Code Title 9, Chapter 5, Article 2, that were passed by the electorate in June 1988 pursuant to Prop. 73. Article 2 contains Sections 85200 and 85201.
Section 85200 specifies that, prior to the solicitation or receipt of any contribution or loan, an individual who intends to be a candidate for an elective state office is required to file with the Secretary of State an original statement, signed under penalty of perjury, of intention to be a candidate for a specific state office.
Section 85201 provides that, upon the filing of the statement of intention, the individual is required to establish one campaign contribution account at an office of a financial institution located in California. In addition, a candidate who raises contributions of $2,000 or more in a calendar year must set forth the name and address of the financial institution where the candidate has established a campaign contribution account and the account number on the committee statement of organization.
Section 85201 also requires all contributions or loans made to the candidate, to a person on behalf of the candidate, or to the candidate’s controlled committee to be deposited in the account. All campaign expenditures are required to be deposited in the account prior to expenditure. All campaign expenditures must be made from the account.