W. Va. Code R. § 146-5-10

Current through Register Vol. XLI, No. 24, June 14, 2024

Section 146-5-10 - Withdrawal from Participation

10.1. A candidate who wants to withdraw from being a certified candidate and become a nonparticipating candidate may at any time file an Application for Withdrawal from Participation, on a form provided by the SEC, with the Commission.

10.2. No certified candidate may withdraw until he or she has repaid all moneys received from the Fund unless the Commission has waived the repayment requirement due to exceptional circumstances.

10.3. If a candidate seeks to avoid repayment of all monies received, the candidate shall explain on the Application for Withdrawal from Participation the circumstances which justify a waiver of the repayment requirement.

10.4. Upon receiving an Application for Withdrawal the Commission shall meet and make a determination within three business days.

10.5. The Commission shall consider Applications for Withdrawal on a case-by-case basis to determine the sufficiency of the reason for withdrawal.

10.6. The Commission may assess a penalty not to exceed $10,000 against any candidate who withdraws without approval from the Commission.

W. Va. Code R. § 146-5-10