24.2-949.2 - Statement of organization for a political action committee.
§ 24.2-949.2. Statement of organization for a political action committee.
A. Except as provided in subsection B or C, each political action committeethat anticipates receiving contributions or making expenditures in excess of$200 in a calendar year shall file with the State Board a statement oforganization within 10 days after its organization, or if later, within 10days after the date on which it has information that causes the committee toanticipate it will receive contributions or make expenditures in excess of$200 or on which it otherwise becomes subject to the provisions of thischapter. Any change in information previously submitted in a statement oforganization shall be reported to the State Board within 10 days followingthe change.
The statement of organization shall include:
1. The name of the political action committee and its address in theCommonwealth;
2. The names, addresses, and relationships of affiliated or connectedorganizations;
3. The area, scope, or jurisdiction of the political action committeeaccompanied by the statement that the primary purpose of the committee is toadvocate the election or defeat of a clearly identified candidate;
4. The name and business address of the treasurer and his residence addressin the Commonwealth who shall be deemed the agent of the political actioncommittee for the purpose of service of process on the political actioncommittee;
5. The name, residence address in the Commonwealth, business address, andposition of the custodian of the books and accounts, who works under thedirection of the treasurer, and the address in the Commonwealth where thebooks are maintained;
6. The name, address, office sought, and party affiliation of each individualwhom the political action committee is supporting or opposing for nominationor for election to any public office whatever or, if supporting the entireticket of any party, the name of the party;
7. The designated depository to be used for the receipt and holding of fundsand contributions received by the political action committee, in an accountin a financial institution within the Commonwealth; and
8. Such other information as shall be required by the State Board except thatthe account number for the designated depository account shall not berequired.
The State Board shall not register or issue a registration number to anypolitical action committee that fails to state pursuant to subdivision 3 thatits primary purpose is to influence the outcome of nonfederal elections inVirginia.
B. Notwithstanding the provisions of subsection A, a political actioncommittee that is established or controlled by a corporation doing businessin Virginia shall provide the following information in its statement oforganization in lieu of the information required in subdivisions 1, 4, 5, and7 of subsection A:
1. The name and address of the political action committee;
2. The name and residence and business addresses of the treasurer;
3. The name, residence address, and position of the custodian of the bookswho works under the direction of the treasurer; and
4. A listing of all banks, safe-deposit boxes, or other repositories used.
C. A federal political action committee that makes expenditures for thepurpose of influencing the outcome of any election in Virginia, other thanfederal elections, shall provide the following information in its statementof organization:
1. The name and address of the committee;
2. The committee's Federal Election Commission registration identificationnumber; and
3. The name and address of its treasurer.
The State Board shall be required to provide a link from its Internet websiteto the federal political action committee's electronically displayed FederalElection Commission campaign finance disclosure reports.
(1975, c. 515, § 24.1-254.1; 1983, c. 119; 1991, cc. 9, 709; 1993, c. 641, §24.2-908; 1996, c. 1042; 2000, cc. 852, 872; 2004, cc. 441, 457; 2006, cc.771, 787, 805, 892; 2007, c. 246.)