20A-11-704. Statement of organization required for certain new corporations.
(1)
A corporation that is incorporated, organized, or otherwise created less than 90 days before the date of a general election shall file a statement of organization with the lieutenant governor’s office before making a contribution to a political action committee or a political issues committee in association with the election.
Terms Used In Utah Code 20A-11-704
Address: means the number and street where an individual resides or where a reporting entity has its principal office. See Utah Code 20A-11-101
Contribution: means any of the following when done for political purposes:
(i)
a gift, subscription, donation, loan, advance, or deposit of money or anything of value given to the filing entity;
(ii)
an express, legally enforceable contract, promise, or agreement to make a gift, subscription, donation, unpaid or partially unpaid loan, advance, or deposit of money or anything of value to the filing entity;
(iii)
any transfer of funds from another reporting entity to the filing entity;
(iv)
compensation paid by any person or reporting entity other than the filing entity for personal services provided without charge to the filing entity;
(v)
remuneration from:
(A)
any organization or its directly affiliated organization that has a registered lobbyist; or
(B)
any agency or subdivision of the state, including school districts;
(vi)
a loan made by a candidate deposited to the candidate's own campaign; and
Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
Corporation: means a domestic or foreign, profit or nonprofit, business organization that is registered as a corporation or is authorized to do business in a state and makes any expenditure from corporate funds for:
(i)
the purpose of expressly advocating for political purposes; or
(ii)
the purpose of expressly advocating the approval or the defeat of any ballot proposition. See Utah Code 20A-11-101
Election: means each:
(a)
regular general election;
(b)
regular primary election; and
(c)
special election at which candidates are eliminated and selected. See Utah Code 20A-11-101
Political action committee: includes groups affiliated with a registered political party but not authorized or organized by the governing board of the registered political party that receive contributions or makes expenditures for political purposes. See Utah Code 20A-11-101
Political issues committee: means an entity, or any group of individuals or entities within or outside this state, a major purpose of which is to:
(i)
solicit or receive donations from any other person, group, or entity to assist in placing a ballot proposition on the ballot, assist in keeping a ballot proposition off the ballot, or to advocate that a voter refrain from voting or vote for or vote against any ballot proposition;
(ii)
make expenditures to expressly advocate for any person to sign or refuse to sign a ballot proposition or incorporation petition or refrain from voting, vote for, or vote against any proposed ballot proposition or an incorporation in an incorporation election; or
(iii)
make expenditures to assist in qualifying or placing a ballot proposition on the ballot or to assist in keeping a ballot proposition off the ballot. See Utah Code 20A-11-101
(2)
The statement of organization shall include:
(a)
the name and street address of the corporation;
(b)
the name, street address, phone number, occupation, and title of one or more individuals that have primary decision-making authority for the corporation;
(c)
the name, street address, phone number, occupation, and title of the corporation’s chief financial officer;
(d)
the name, street address, occupation, and title of all other officers or managers of the corporation; and
(e)
the name, street address, and occupation of each member of the corporation’s governing and advisory boards, if any.
(3)
(a)
A corporation shall file with the lieutenant governor’s office a notice of intent to cease making contributions, if the corporation:
(i)
has made a contribution described in Subsection (1); and
(ii)
intends to permanently cease making contributions described in Subsection (1).
(b)
A notice filed under Subsection (3)(a) does not exempt the corporation from complying with the financial reporting requirements described in this chapter.
