(a) Statements of organizations
Each authorized campaign committee shall file a statement of organization no later than 10 days after designation pursuant to section 30102(e)(1) of this title. Each separate segregated fund established under the provisions of section 30118(b) of this title shall file a statement of organization no later than 10 days after establishment. All other committees shall file a statement of organization within 10 days after becoming a political committee within the meaning of section 30101(4) of this title.
(b) Contents of statements
The statement of organization of a political committee shall include—
(1) the name, address, and type of committee;
(2) the name, address, relationship, and type of any connected organization or affiliated committee;
(3) the name, address, and position of the custodian of books and accounts of the committee;
(4) the name and address of the treasurer of the committee;
(5) if the committee is authorized by a candidate, the name, address, office sought, and party affiliation of the candidate; and
(6) a listing of all banks, safety deposit boxes, or other depositories used by the committee.
(c) Change of information in statements
Any change in information previously submitted in a statement of organization shall be reported in accordance with section 30102(g) of this title no later than 10 days after the date of the change.
(d) Termination, etc., requirements and authorities
(1) A political committee may terminate only when such a committee files a written statement, in accordance with section 30102(g) of this title, that it will no longer receive any contributions or make any disbursements and that such committee has no outstanding debts or obligations.
(2) Nothing contained in this subsection may be construed to eliminate or limit the authority of the Commission to establish procedures for—
(A) the determination of insolvency with respect to any political committee;
(B) the orderly liquidation of an insolvent political committee, and the orderly application of its assets for the reduction of outstanding debts; and
(C) the termination of an insolvent political committee after such liquidation and application of assets.
Codification
Section was formerly classified to section 433 of Title 2, The Congress, prior to editorial reclassification and renumbering as this section. Some section numbers referenced in amendment notes below reflect the classification of such sections prior to their editorial reclassification to this title.
Amendments
1980—Subsec. (a). Pub. L. 96–187 substituted provisions requiring each authorized campaign committee, each segregated fund established under section 441b(b) of this title, and all other committees to file a statement of organization 10 days after establishment for provisions requiring each political committee anticipating the receipt or expenditure during the calendar year of an amount exceeding $1,000 to file with the Commission a statement of organization within 10 days after organization or 10 days after receipt of information causing the anticipation of receipt or expenditure in excess of $1,000 and requiring each committee in existence on the date of enactment of this Act to file a statement of organization at such time as the Commission prescribes.
Subsec. (b). Pub. L. 96–187 inserted "of a political committee" in introductory clause; in par. (1) inserted reference to type of committee; in par. (2) inserted reference to type of organization or affiliated committee; in par. (3) substituted provisions relating to the name, address and position of custodian of books and accounts for provisions relating to area, scope or jurisdiction of the committee; in par. (4) substituted provisions relating to the name and address of the treasurer for provisions relating to the name, address and position of the custodian of books and accounts; in par. (5) substituted provisions relating to the name, address, office sought and party affiliation of the candidate for provisions relating to the name, address and position of principal officers including officers of the finance committee; in par. (6) substituted provisions relating to listings of banks, safety deposit boxes, etc. for provisions relating to name and address, office sought and political affiliation of supported candidates, and struck out pars. (7) to (11) relating to other information.
Subsec. (c). Pub. L. 96–187 substituted "in accordance with section 432(g) of this title no later than 10 days after the date of the change" for "to the Commission within a ten-day period following the change".
Subsec. (d). Pub. L. 96–187 redesignated existing provisions as par. (1), substituted provisions relating to termination of a political committee by written statement in accordance with section 432(g) of this title for provisions relating to notification to the Commission in the event of disbandment or determination no longer to receive contributions during the calendar year of an amount exceeding $1,000, and added par. (2).
Subsec. (e). Pub. L. 96–187 struck out subsec. (e) relating to filing of required reports and notifications with the appropriate principal campaign committee instead of the Commission in the case of a political committee which is not a principal campaign committee.
1974—Pub. L. 93–443, §208(c)(3)(A), substituted "Commission" for "supervisory officer" wherever appearing.
Subsec. (a). Pub. L. 93–443, §208(c)(3)(B), substituted "it prescribes" for "he prescribes".
Subsec. (e). Pub. L. 93–443, §203, added subsec. (e).
Effective Date of 1980 Amendment
Amendment by Pub. L. 96–187 effective Jan. 8, 1980, see section 301(a) of Pub. L. 96–187, set out as a note under section 30101 of this title.
Effective Date of 1974 Amendment
Amendment by Pub. L. 93–443 effective Jan. 1, 1975, see section 410(a) of Pub. L. 93–443, set out as a note under section 30101 of this title.
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