By Emma Murphy, Oklahoma Voice
OKLAHOMA CITY — Candidates for office may not need to close and open a bank account each election cycle, according to two draft opinions from the Oklahoma Ethics Commission.
In both opinions, the Commission recommended that those running for reelection for the same office in a subsequent election cycle not be required to open a new bank account. They would still be required to close and reopen a campaign committee with the commission.
Rep. Judd Strom, R-Copan, requested clarification of the Commission’s existing rule in September.
Strom wrote that the current rule, as he understands it, requires a candidate or officeholder to close their current bank account, open a new one and transfer carry-over funds each election cycle, even when running for reelection of the same office.
“I have found the action to be cumbersome, be confusing, and possibly lead to the unintended consequence of observers being misled by the transfer of funds,” he wrote.
The first opinion also proposes that the campaign committee’s bank account can be opened with a bank without specifying a year on the account’s name.
The commission is expected to hear written or oral public feedback on the preliminary opinions at its Nov. 13 meeting ahead of any vote to finalize either.
