Only the official representative may contract a loan for a party or an authorized independent candidate. This loan may only be contracted with an elector of the municipality or a financial institution, at the current market rate of interest.
Loans and suretyships granted by an elector to one or more political parties or authorized independent candidates cannot exceed a total of $10,000. The lenders may be the candidates themselves. There is no stipulated maximum for a loan made in a recognized financial institution.
If a loan from an elector is granted at an interest rate that is less than the current rate, the difference between the two rates must be considered a contribution by the elector and a contribution receipt must be issued to him.
Any loan made by an elector must be made by cheque.
The deed of loan or the suretyship must include a declaration by the elector that the loan is made or the suretyship is contracted on his own property, voluntarily, without compensation or for a consideration, and that it was not and will not be reimbursed in any way other than as provided by law.