PROVIDENCE, R.I. (AP) — A new law that requires Rhode Island officeholders and candidates to be truthful in their dealings with campaign finances has reached a 93 percent compliance rate.

The law, which went into effect last year, requires politicians to submit bank statements to the Board of Elections following fourth-quarter campaign finance reports. The Providence Journal reports ( ) out of 668 individuals with active campaign finance accounts, 49 have not filed their bank statements.

Twenty-four out of 199 political action committees have not filed statements in the required time frame.

There is no specific penalty for not filling a bank statement or filing late. A Board of Elections spokesman says noncompliance can be addressed under other penalty provisions provided to the board.