Fillable Form 31-C - Statement Of Loans Received (Page 2 of 2) in pdf

Statement of Loans Received - Form 31-C

The Statement of Loans Received is used when

If a loan is forgiven, write the word “Forgiven” in the

money is loaned to a committee that is to be repaid. A loan is

Outstanding Balance space.

put into the committee’s separate bank account. If money is

If a loan is received from a state or FSL PAC, write

owed on an item or service, it is a debt, not a loan and should

the PAC registration number in the PAC Registration Number

be reported on the Statement of Outstanding Debt (Form 31-

block.

N). Funds loaned to a committee by the candidate that are still

If the campaign committee of a statewide or general

outstanding at the end of a reporting period must be reported

assembly candidate receives a loan over $100 from an

on this form in order for the candidate to be repaid at a later

individual, the employer/occupation/labor organization block

date. Amounts listed as a contribution cannot be listed later as

must be completed. If the individual is self-employed, the

loans. [R.C. 3517.01(B)(5), 3517.13(O)].

occupation and the name of the individual’s business, if any,

The loan form tracks the status of an incoming loan

rather than the employer must be listed.

from the time it is first received until it is either repaid or

The State block should be completed with the U.S.

forgiven. For example, if a loan is received in one reporting

Post Office's standard two-letter abbreviation. For example,

period and not repaid for several years, every time a report is

The Date block should be completed with six digits.

filed the loan will appear as outstanding even if there was no

For example, March 9, 2005, would appear as 03 09 05.

current period activity. Additional loans received from and

The total amount of all new loans received within the

payments made to the same source should be reflected in the

reporting period must be transferred to the Statement of Other

original loan box. If a $1,000 loan was previously received

Income (Form 31-A-2). The total of all payments made during

from an individual and then subsequently an additional $500

the reporting period is transferred to the Statement of

loan was received from the same source, the additional loan

Expenditures (Form 31-B). A transfer is done by placing the

should be reported in the Loans Received this Period block of

words “Loan transfer from Form no. 31-C” in one of the lines

the original loan. It should not be listed as a new loan.

marked Full Name or “Total loan payments made from Form

The Date Originally Incurred space will remain the

no. 31-C” in one of the lines marked To Whom Paid, as

same every time the loan appears.

appropriate to the situation.

When a loan is first received, the Prior Amount block

The total of all outstanding loans owed by the committee

will be blank. Thereafter, the Amount Incurred This Period

should appear on line 9 on the cover page.

space will generally be left blank unless interest or additional

loans from the same source are added onto the outstanding

balance of a loan

Form 31-C - Statement Of Loans Received Page 2

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