These campaigns together are projected at receiving a collective 8.3 million dollars worth of contributions over the legal limit.
The Commission took another small step to resolve this ongoing issue.
It will now send letters to the candidates telling them that they are under investigation.
Candidates may then come forward to plead their case and the hardship they would face in having to return the money.
Both Attorney General Jay Nixon and Governor Matt Blunt have millions of dollars at risk of having to be returned.
However Robert Connor, executive director of the Commission says the term hardship is still unclear.
The public will be kept in the dark as to which candidates decide to fight for their case.
The hearings will be closed and only after a decision is made will the results be published on the Commission's website.
Reporting from the State Capitol, I'm Carly Robertson.
The Commission's ruling came after an investigation which revealed that the 260 candidates have a collective 8.3 million dollars at stake.
Warren Neiburg is the head commissioner and he says only those candidates who want to keep the excess contributions would have to argue their case of hardship.
Before any hearings take place, candidates will be notified by mail that they are under investigation by the Commission.
It is then up to the Commission to determine whether there is reasonable cause for a hearing to take place.
Neiburg stated during the meeting that he hopes to have all of the matters resolved by late February.
Reporting from the state Capitol, I'm Carly Robertson.