The Executive Committee cannot borrow money. We quote here.
From the Bylaws:
5. The Party shall not borrow in excess of $2,000 total without prior approval by 2/3 vote of the National Committee. This shall not include current operating debt for trade payables.
From the Policy Manual:
8) Financial Exigency
The Chair or Treasurer is authorized to execute up to $100,000 in promissory notes while the LNC has specifically declared that a state of financial exigency exists, and the only reasonable method of forestalling legal action is to execute promissory notes. The Chair must approve all negotiated terms with the goal being a schedule that the Party can successfully meet to extinguish its debts within six (6) months. Such promissory notes shall only be executed with the following terms:
• Only for a legitimate trade payable in an amount not to exceed $25,000 per vendor, and then only to each specific creditor or vendor involved.
• Vendor agrees in writing not to assign the note to any third party.
• A rate of interest no greater than twelve-percent (12%) per annum from date of note execution.
• A duration not exceeding six (6) months from note execution. If debt extinguishment is not possible in that time frame, no note shall be executed.