Virginia Code 24.2-949.1: Establishment of political action committees by certain entities.
Any stock or nonstock corporation, labor organization, membership organization, cooperative, or other group of persons may establish and administer for political purposes, and solicit and expend contributions for, a political action committee, provided that:
Terms Used In Virginia Code 24.2-949.1
- Contribution: includes money, services, or things of value in any way provided by a candidate to his own campaign and the payment by the candidate of a filing fee for any party nomination method. See Virginia Code 24.2-945.1
- 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.
- Expenditure: means money and services of any amount, and any other thing of value, paid, loaned, provided, or in any other way disbursed by any candidate, campaign committee, political committee, or person for the purpose of expressly advocating the election or defeat of a clearly identified candidate or by any inaugural committee for the purpose of defraying the costs of the inauguration of a Governor, Lieutenant Governor, or Attorney General. See Virginia Code 24.2-945.1
- Person: means any individual or corporation, partnership, business, labor organization, membership organization, association, cooperative, or other like entity. See Virginia Code 24.2-945.1
- Political action committee: means any organization, person, or group of persons, established or maintained to receive and expend contributions for the primary purpose of expressly advocating the election or defeat of a clearly identified candidate. See Virginia Code 24.2-945.1
1. No political action committee shall make a contribution or expenditure by utilizing money or anything of value secured by physical force, job discrimination, financial reprisal, threat of force, or as a condition of employment.
2. Any person soliciting a contribution to a political action committee shall, at the time of solicitation, inform the person being solicited of (i) his right to refuse to contribute without any reprisal and (ii) the political purposes of the committee.
1981, c. 425, § 24.1-254.2; 1993, c. 641, § 24.2-909; 2006, cc. 787, 892.