(a) A member of a political committee or an independent expenditure-only political committee that has surplus funds after all campaign debts have been paid shall not convert the surplus to personal use.
(b) Surplus funds in a political committee’s account shall be:
(1) contributed to other candidates, political parties, or political committees subject to the contribution limits set forth in this chapter;
(2) contributed to a charity;
(3) contributed to the Secretary of State Services Fund; or
(4) liquidated using a combination of the provisions set forth in subdivisions (1)-(3) of this subsection.
(c) The “final report” of a political committee shall indicate the amount of the surplus and how it has been liquidated.