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23 November, 05:49

A municipal issuer official has lost her re-election campaign and has just left elected office. She is soliciting political contributions in a "clean-up" campaign to settle her campaign debt. Which statement is TRUE about an MFP that wishes to contribute $500 to the "clean-up" campaign?

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  1. 23 November, 05:58
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    Answer: Because the issuer official no longer holds elected office, the contribution limits of Rule G-37 do not apply.

    Explanation:

    Rule G-37 is a way to ensure that Municipal Issuers are not unduly influenced by those who donated to their campaigns to get into a position to become Municipal Issuers.

    It prohibites for 2 years, Municipal Finance Professionals (MFP) amongst others from engaging in municipal securities business with a Municipal issuer.

    An exception however, is that if the MFP is entitled to a vote for the Official in question, they can donate no more than $250 per election.

    Seeing as the Municipal Issuer Officer has lost her position, the MFP need not worry about this $250 limit as it no longer applies to her. The MFP is free to donate $500 to the "clean-up" campaign.
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