Source: https://www.law.cornell.edu/cfr/text/11/116.9
Timestamp: 2017-01-17 13:02:51
Document Index: 715245243

Matched Legal Cases: ['art 116', '§ 116', 'art 116', '§ 433', '§ 434', '§ 438', '§ 441', '§ 441', '§ 451', 'art 116', 'arts 1', 'art 116']

11 CFR 116.9 - Creditors that cannot be found or that are out of business. | US Law | LII / Legal Information Institute
CFR › Title 11 › Chapter I › Subchapter A › Part 116 › Section 116.9 11 CFR 116.9 - Creditors that cannot be found or that are out of business.
§ 116.9 Creditors that cannot be found or that are out of business.
(a)General requirements. A political committee may request that the Commission determine that a debt owed to a creditor is not payable for purposes of the Act if the debt has been outstanding for at least twenty-four months, and the requirements of paragraph (b) or (c) of this section, as appropriate, have been satisfied, and - (1) The creditor has gone out of business and no other entity has a right to be paid the amount owed; or
(2) The political committee has exercised reasonable diligence in attempting to locate the creditor and has been unable to do so. Reasonable diligence in attempting to locate the creditor means the political committee has attempted to ascertain the current address and telephone number, and has attempted to contact the creditor by registered or certified mail, and either in person or by telephone.
(b)Terminating committees. If the political committee making the request is a terminating committee, the terminating committee shall include the request in a debt settlement plan filed with the Commission, and shall demonstrate that the requirements of 11 CFR 116.3, 116.5 or 116.6, as appropriate, and 116.9(a) are satisfied. The terminating committee shall continue to disclose the debt on its schedules of outstanding debts and obligations until the Commission has completed its review of the debt settlement plan pursuant to 11 CFR 116.7(f) and has determined that the debt is not payable for purposes of the Act.
(c)Ongoing committees. If the political committee making the request is an ongoing committee, the ongoing committee shall make the request in writing and shall demonstrate that the requirements of 11 CFR 116.3, 116.5 or 116.6, as appropriate, and 116.9(a) are satisfied. The Commission will review the request to determine whether the ongoing committee and the creditor have complied with the requirements of 11 CFR part 116, and to determine whether reporting the debt as not payable would result in an apparent violation of the Act or the Commission's regulations. The ongoing committee shall continue to disclose the debt on its schedules of outstanding debts and obligations until the Commission has completed its review of the request and has determined that the debt is not payable for purposes of the Act.
(d)Reporting. Upon notification that the Commission has determined that the debt is not payable for purposes of the Act, the political committee may list the debt as not payable on the next due report. Notwithstanding 11 CFR 104.11, the debt does not have to be included in subsequent reports unless the status of the debt changes. The presence of a debt that the Commission has determined is not payable shall not bar the political committee from terminating its registration pursuant to 11 CFR 102.3.
This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.United States CodeU.S. Code: Title 2 - THE CONGRESS§ 433 - Transferred§ 434 - Transferred§ 438 - Transferred§ 441a - Transferred§ 441b - Transferred§ 451 - Transferred
Title 11 published on 2016-09-20The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 11 CFR Part 116 after this date.2016-11-02; vol. 81 # 212 - Wednesday, November 2, 201681 FR 76416 - Technological Modernization
typeregulations.gov FR Doc.2016-25102 RIN Notice2016-12 FEDERAL ELECTION COMMISSION Notice of proposed rulemaking. Comments must be received on or before December 2, 2016. The Commission will determine at a later date whether to hold a public hearing on this proposed rule. Anyone wishing to testify at such a hearing must file timely written comments and must include in the written comments a request to testify. If a hearing is to be held, the Commission will publish a document in the Federal Register announcing the date and time of the hearing. 11 CFR Parts 1, 2, 4, 5, 6, 7, 100, 102, 103, 104, 105, 106, 108, 109, 110, 111, 112, 114, 116, 200, 201, 300, 9002, 9003, 9004, 9007, 9032, 9033, 9034, 9035, 9036, 9038, and 9039 SummaryThe Federal Election Commission requests comment on proposed changes to its regulations to address contributions and expenditures that are made by electronic means, such as through internet-based payment processors or text messaging; to eliminate and update references to outdated technologies; and to address similar issues. The Commission has not made any final decisions about the issues and proposals presented in this rulemaking.
11 CFR 116.7 — Debt Settlement Plans Filed by Terminating Committees; Commission Review.
11 CFR 116.2 — Debts Owed by Terminating Committees, Ongoing Committees, and Authorized Committees.
Title 11 published on 2016-09-20.No entries appear in the Federal Register after this date, for 11 CFR Part 116.
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