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52 U.S.C. § 30103Registration of political committees

submitted 54 years ago by Pub. L. 92-225 to r/title-52-VOTING-AND-ELECTIONS · 345 words · no verdicts yet

in plain englishAI-generated · not legal advice

This law requires political committees to register with the government. Most committees must file an organization statement within 10 days of forming. Committees must report changes and follow set rules to close down or handle insolvency.

(a) Statements of organization. Every authorized campaign committee must file a statement of organization no later than 10 days after the candidate designates it under section 30102(e)(1). Every separate segregated fund set up under section 30118(b) must file no later than 10 days after it's established. Every other political committee must file within 10 days after it becomes a "political committee" as defined in section 30101(4). (b) Contents of statements. A committee's statement of organization must include— (1) the committee's name, address, and type; (2) the name, address, relationship, and type of any connected organization or affiliated committee; (3) the name, address, and job title of whoever keeps the committee's books and accounts; (4) the treasurer's name and address; (5) if a candidate authorized the committee, that candidate's name, address, the office they're seeking, and their party; and (6) a list of every bank, safe deposit box, or other place the committee keeps its money. (c) Change of information. Any change to information already given in a statement of organization must be reported, following section 30102(g), no later than 10 days after the change happens. (d) Termination. (1) A political committee can only shut down by filing a written statement, following section 30102(g), saying it will stop taking contributions and making payments, and that it has no debts or obligations left. (2) This does not limit the Commission's power to set up procedures for— (A) deciding when a political committee is insolvent; (B) orderly winding-down of an insolvent committee and using its assets to pay down debt; and (C) formally ending an insolvent committee once that winding-down is finished.
the actual law source: uscode.house.gov ↗public domain
(a) Statements of organizations

Each authorized campaign committee shall file a statement of organization no later than 10 days after designation pursuant to section 30102(e)(1) of this title. Each separate segregated fund established under the provisions of section 30118(b) of this title shall file a statement of organization no later than 10 days after establishment. All other committees shall file a statement of organization within 10 days after becoming a political committee within the meaning of section 30101(4) of this title.

(b) Contents of statements

The statement of organization of a political committee shall include—

(1)

the name, address, and type of committee;

(2)

the name, address, relationship, and type of any connected organization or affiliated committee;

(3)

the name, address, and position of the custodian of books and accounts of the committee;

(4)

the name and address of the treasurer of the committee;

(5)

if the committee is authorized by a candidate, the name, address, office sought, and party affiliation of the candidate; and

(6)

a listing of all banks, safety deposit boxes, or other depositories used by the committee.

(c) Change of information in statements

Any change in information previously submitted in a statement of organization shall be reported in accordance with section 30102(g) of this title no later than 10 days after the date of the change.

(d) Termination, etc., requirements and authorities
(1)

A political committee may terminate only when such a committee files a written statement, in accordance with section 30102(g) of this title, that it will no longer receive any contributions or make any disbursements and that such committee has no outstanding debts or obligations.

(2)

Nothing contained in this subsection may be construed to eliminate or limit the authority of the Commission to establish procedures for—

(A)

the determination of insolvency with respect to any political committee;

(B)

the orderly liquidation of an insolvent political committee, and the orderly application of its assets for the reduction of outstanding debts; and

(C)

the termination of an insolvent political committee after such liquidation and application of assets.

Source credit: (Pub. L. 92–225, title III, § 303, Feb. 7, 1972, 86 Stat. 14; Pub. L. 93–443, title II, §§ 203, 208(c)(3), Oct. 15, 1974, 88 Stat. 1276, 1286; Pub. L. 96–187, title I, § 103, Jan. 8, 1980, 93 Stat. 1347.)

history & why it existsrecord from the source credit
  • 1972Enacted · Pub. L. 92-225 · 86 Stat. 14
  • 1974Amended · Pub. L. 93-443 · 88 Stat. 1276, 1286
  • 1980Amended · Pub. L. 96-187 · 93 Stat. 1347

A history note hasn’t been published yet. The record shows enactment by Pub. L. 92-225 on 1972-02-07.

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