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To: businessprofessor

Corporate donations are banned, but donations from a limited partnership, LLC or any other corporate form are allowed. The law doesn’t make sense and is in doubt after the recent SC decision.


235 posted on 11/24/2010 11:10:35 PM PST by Texas Federalist (DeMint 2012!)
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To: Texas Federalist
Corporate donations are banned, but donations from a limited partnership, LLC or any other corporate form are allowed.

Huh? Texas code:

SUBCHAPTER D. CORPORATIONS AND LABOR ORGANIZATIONS

Sec. 253.091.  CORPORATIONS COVERED.  This subchapter applies only to corporations that are organized under the Texas Business Corporation Act, the Texas For-Profit Corporation Law, the Texas Non-Profit Corporation Act, the Texas Nonprofit Corporation Law, federal law, or law of another state or nation.

Sec. 253.094.  CONTRIBUTIONS AND EXPENDITURES PROHIBITED.  (a)  A corporation or labor organization may not make a political contribution or political expenditure that is not authorized by this subchapter.

(b)  A corporation or labor organization may not make a political contribution or political expenditure in connection with a recall election, including the circulation and submission of a petition to call an election.

(c)  A person who violates this section commits an offense. An offense under this section is a felony of the third degree.

Sec. 253.104.  CONTRIBUTION TO POLITICAL PARTY.  (a)  A corporation or labor organization may make a contribution from its own property to a political party to be used as provided by Chapter 257.

(b)  A corporation or labor organization may not knowingly make a contribution authorized by Subsection (a) during a period beginning on the 60th day before the date of a general election for state and county officers and continuing through the day of the election.

(c)  A corporation or labor organization that knowingly makes a contribution in violation of this section commits an offense. An offense under this section is a felony of the third degree. Evidently Delay violated(somehow) sec 253.104 since the September date on a check was somehow within a 60 day window.

239 posted on 11/25/2010 1:14:13 AM PST by AndrewC
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