Today's Law As Amended


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AB-2050 Corporations: political activity: disclosures. (2011-2012)



As Amends the Law Today


SECTION 1.

 Section 721 is added to the Corporations Code, to read:

721.
 (a) A domestic corporation shall not, directly or indirectly, make any monetary or other contribution of value to any candidate for city, county, city and county, or state office in this state or any other state.
(b) Every domestic corporation that, directly or indirectly, makes any monetary or other contribution of value, either individually or cumulatively, in excess of one thousand dollars ($1,000) to or for the benefit or support of, or to the detriment of or opposition to, any candidate for federal office or any statewide ballot measure, referendum, or initiative voted on in this state shall, within 10 days of doing so, file a report on a form to be prepared by the Secretary of State setting forth the full details of that contribution and the information on that form shall promptly be placed in the public records, including on the Internet Web site of the Secretary of State.
(c) The provisions of this section are severable. If any provision of this section or its application is held invalid, that invalidity shall not affect other provisions or applications that can be given effect without the invalid provision or application.