(a) All campaign funds received and expended by a candidate, office holder, treasurer, or deputy treasurer, subject to the provisions of this chapter, shall be segregated from all other accounts. The candidate or office holder must maintain a separate campaign account, which shall not contain any non-campaign funds, at a financial institution that has a physical branch within this state. The comingling of a candidate’s personal or business funds with campaign funds is expressly prohibited. As used herein, the term “financial institution” includes a bank or a credit union.
(b) Applicability to political action committees. The provisions of this section shall apply to political action committees, as well as to individual candidates and office holders.