1. Except as provided in subsections 3, 4, 5, and 6, an insurance company, savings association, bank, credit union, or corporation shall not make a monetary or in-kind contribution to a candidate or committee except for a ballot issue committee.

Terms Used In Iowa Code 68A.503

  • Ballot issue: means a question, other than the nomination or election of a candidate to a public office, which has been approved by a political subdivision or the general assembly or is required by law to be placed before the voters of the political subdivision by a commissioner of elections, or to be placed before the voters by the state commissioner of elections. See Iowa Code 68A.102
  • Board: means the Iowa ethics and campaign disclosure board established under section 68B. See Iowa Code 68A.102
  • Candidate: means any individual who has taken affirmative action to seek nomination or election to a public office and shall also include any judge standing for retention in a judicial election. See Iowa Code 68A.102
  • Committee: includes a political committee and a candidate's committee. See Iowa Code 68A.102
  • Contribution: means :
     (1) A gift, loan, advance, deposit, rebate, refund, or transfer of money or a gift in kind. See Iowa Code 68A.102
  • 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 for-profit or nonprofit corporation organized pursuant to the laws of this state, the United States, or any other state, territory, or foreign country. See Iowa Code 68A.503
  • expressly advocate: means communication that can be characterized according to at least one of the following descriptions:
     a. See Iowa Code 68A.102
  • following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
  • owner: means a person having an ownership interest exceeding ten percent of the equity or profits of the publication. See Iowa Code 68A.503
  • Person: means , without limitation, any individual, corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, labor union, or any other legal entity. See Iowa Code 68A.102
  • Political committee: means any of the following:
     a. See Iowa Code 68A.102
  • property: includes personal and real property. See Iowa Code 4.1
  • Public office: means any state, county, city, or school office filled by election. See Iowa Code 68A.102
  • sham newspaper: means a newspaper publication that is published for the primary purpose of evading the requirements of this section or section 68A. See Iowa Code 68A.503
  • state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
  • United States: includes all the states. See Iowa Code 4.1
 2. Except as provided in subsection 3, a candidate or committee, except for a ballot issue committee, shall not receive a monetary or in-kind contribution from an insurance company, savings association, bank, credit union, or corporation.
 3. An insurance company, savings association, bank, credit union, or corporation may use money, property, labor, or any other thing of value of the entity for the purposes of soliciting its stockholders, administrative officers, professional employees, and members for contributions to a political committee sponsored by that entity and for financing the administration of a political committee sponsored by that entity. The entity’s employees to whom the foregoing authority does not extend may voluntarily contribute to such a political committee but shall not be solicited for contributions. A candidate or committee may solicit, request, and receive money, property, labor, and any other thing of value from a political committee sponsored by an insurance company, savings association, bank, credit union, or corporation as permitted by this subsection.
 4. The prohibitions in subsections 1 and 2 shall not apply to an insurance company, savings association, bank, credit union, or corporation engaged in any of the following activities:

 a. Using its funds to encourage registration of voters and participation in the political process or to publicize public issues.
 b. Using its funds to expressly advocate the passage or defeat of ballot issues.
 c. Using its funds for independent expenditures as provided in section 68A.404.
 d. Using its funds to place campaign signs as permitted under section 68A.406.
 5. a. The prohibitions in subsections 1 and 2 shall not apply to media organizations when discussing candidates, nominations, public officers, or public questions.

 b. Notwithstanding paragraph “a”, the board shall adopt rules requiring the owner, publisher, or editor of a sham newspaper that promotes in any way the candidacy of a person for any public office to comply with this section and section 68A.404. As used in this subsection, “sham newspaper” means a newspaper publication that is published for the primary purpose of evading the requirements of this section or section 68A.404, and “owner” means a person having an ownership interest exceeding ten percent of the equity or profits of the publication.
 6. The prohibitions in subsections 1 and 2 shall not apply to a nonprofit organization communicating with its own members. The board shall adopt rules pursuant to chapter 17A to administer this subsection.
 7. For purposes of this section “corporation” means a for-profit or nonprofit corporation organized pursuant to the laws of this state, the United States, or any other state, territory, or foreign country.
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