An individual may not become a candidate for any public or party office in this State or become a treasurer for a campaign finance entity if, as to any campaign finance report due under § 13-304 of this subtitle from, or on behalf of, that individual during the preceding five calendar years:
(1) there exists a failure to file as specified in § 13-327 of this subtitle; or
(2) the individual has failed to pay a late filing fee that is due.