§ 7-6-227 - Registration by independent expenditure committee.
7-6-227. Registration by independent expenditure committee.
(a) (1) (A) An independent expenditure committee shall register with the Secretary of State within fifteen (15) days after accepting contributions that exceed five hundred dollars ($500) in the aggregate during a calendar year.
(B) Registration shall be annually renewed by January 15 unless the independent expenditure committee has ceased to exist.
(C) Registration shall be on a form provided by the Secretary of State, and the contents of the form shall be verified by an affidavit of an officer of the independent expenditure committee.
(2) (A) The independent expenditure committee shall maintain for a period of four (4) years records evidencing the name, address, and place of employment of each person that contributed to the political action committee, along with the amount contributed.
(B) The independent expenditure committee shall maintain for a period of four (4) years records evidencing each independent expenditure made by the committee, along with the amount of each expenditure.
(3) (A) The political action committee shall designate a resident agent who shall be an individual who resides in this state.
(B) A contribution shall not be accepted from an independent expenditure committee and an expenditure shall not be made by an independent expenditure committee that has not registered and does not have a resident agent.
(4) An out-of-state independent expenditure committee shall comply with the registration and reporting provisions of this section if the committee makes an independent expenditure or independent expenditures within the State of Arkansas that in the aggregate exceed more than five hundred dollars ($500) during a calendar year.
(b) The registration form of an independent expenditure committee shall contain the following information:
(1) (A) The name, address, and, when available, phone number of the independent expenditure committee and the name, address, phone number, and place of employment of each of its officers.
(B) However, if the independent expenditure committee's name is an acronym, then both it and the words forming the acronym shall be disclosed;
(2) The full name and street address, city, state, and zip code of each financial institution the independent expenditure committee uses for purposes of receiving contributions or making expenditures within this state;
(3) A written acceptance of designation as a resident agent;
(4) A certification by an independent expenditure committee officer, under penalty of false swearing, that the information provided on the registration is correct; and
(5) A clause submitting the independent expenditure committee to the jurisdiction of the State of Arkansas for all purposes related to compliance with this subchapter.
(c) (1) When a committee makes a change to any information required in subsection (b) of this section, an amendment shall be filed within ten (10) days to reflect the change.
(2) A committee failing to file an amendment shall be subject to a late filing fee of ten dollars ($10.00) for each day the change is not filed.