Kentucky Statutes 121.035 – Corporate contributions to aid candidates for public office prohibited — Aid to support a constitutional amendment, public issue, or building fund account permitted
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(1) No corporation organized or authorized to do business in this state or in another state shall, by itself or by or through an officer, agent, attorney, or employee, subscribe, give, procure or furnish, or afterwards reimburse or compensate in any way any person who has subscribed, given, procured, or furnished, any money, privilege, favor, or other thing of value to any political or quasi-political organization, or any officer or member thereof, to be used by such organization for the purpose of aiding, assisting, or advancing any candidate for public office in this state in any way whatever.
(2) No officer, agent, attorney, or employee of any corporation organized or authorized to do business in this state or in another state, or person acting for or representing any such corporation, shall disburse, distribute, pay out, or in any way handle any money, funds, or other thing of value that belongs to or has been or is being furnished by any such corporation or any officer, agent, attorney, or employee thereof to be used or employed in any way for the purpose of aiding, assisting, or advancing any candidate for public office in this state in any way whatever.
(3) Nothing in this section shall be construed to prohibit a corporation from making contributions in support of a constitutional amendment, a public question which appears on the ballot, or position on an issue of public importance, or to prohibit a corporation from making contributions to a state executive committee‘s building fund account established under KRS § 121.172. Nothing in this chapter shall be construed to prohibit a not-for-profit corporation, which does not derive a substantial portion of its revenue from for-profit corporations, from making independent expenditures.
Effective:June 29, 2017
History: Amended 2017 Ky. Acts ch. 122, sec. 6, effective June 29, 2017. — Amended 1996 Ky. Acts ch. 153, sec. 5, effective July 15, 1996. — Amended
1994 Ky. Acts ch. 458, sec. 3, effective July 15, 1994. — Amended 1980 Ky. Acts ch. 292, sec. 2, effective July 15, 1980. — Created 1974 Ky. Acts ch. 130, sec. 179.
(2) No officer, agent, attorney, or employee of any corporation organized or authorized to do business in this state or in another state, or person acting for or representing any such corporation, shall disburse, distribute, pay out, or in any way handle any money, funds, or other thing of value that belongs to or has been or is being furnished by any such corporation or any officer, agent, attorney, or employee thereof to be used or employed in any way for the purpose of aiding, assisting, or advancing any candidate for public office in this state in any way whatever.
Terms Used In Kentucky Statutes 121.035
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Attorney: means attorney-at-law. See Kentucky Statutes 446.010
- Candidate: means any person who has received contributions or made expenditures, has appointed a campaign treasurer, or has given his or her consent for any other person to receive contributions or make expenditures with a view to bringing about his or her nomination or election to public office, except federal office. See Kentucky Statutes 121.015
- Committee: includes the following:
(a) "Campaign committee" which means one (1) or more persons who receive contributions and make expenditures to support or oppose one (1) or more specific candidates or slates of candidates for nomination or election to any state, county, city, or district office, but does not include an entity established solely by a candidate which is managed solely by a candidate and a campaign treasurer and whose name is generic in nature, such as "Friends of (the candidate)" and does not reflect that other persons have structured themselves as a committee, designated officers of the committee, and assigned responsibilities and duties to each officer with the purpose of managing a campaign to support or oppose a candidate in an election. See Kentucky Statutes 121.015 - 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: may extend and be applied to any corporation, company, partnership, joint stock company, or association. See Kentucky Statutes 446.010
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
(3) Nothing in this section shall be construed to prohibit a corporation from making contributions in support of a constitutional amendment, a public question which appears on the ballot, or position on an issue of public importance, or to prohibit a corporation from making contributions to a state executive committee‘s building fund account established under KRS § 121.172. Nothing in this chapter shall be construed to prohibit a not-for-profit corporation, which does not derive a substantial portion of its revenue from for-profit corporations, from making independent expenditures.
Effective:June 29, 2017
History: Amended 2017 Ky. Acts ch. 122, sec. 6, effective June 29, 2017. — Amended 1996 Ky. Acts ch. 153, sec. 5, effective July 15, 1996. — Amended
1994 Ky. Acts ch. 458, sec. 3, effective July 15, 1994. — Amended 1980 Ky. Acts ch. 292, sec. 2, effective July 15, 1980. — Created 1974 Ky. Acts ch. 130, sec. 179.