N.J. Admin. Code § 19:25-26.6

Current through Register Vol. 56, No. 24, December 18, 2024

Section 19:25-26.6 - Contribution deemed to be a contribution by a business entity

(a) For the purposes of this subchapter, when a business entity is a natural person, a contribution made by that person's spouse or child, residing therewith, shall be deemed to be a contribution by the business entity.

(b) For the purposes of this subchapter, when a business entity is other than a natural person, a contribution made by any of the following shall be deemed to be a contribution by the business entity:

1. A person or other business entity having an interest in the business entity;

2. A principal, partner, officer, director, or trustee of the business entity;

3. The spouse of a principal, partner, officer, director, or trustee of the business entity;

4. A subsidiary directly or indirectly controlled by the business entity; and

5. A continuing political committee organized under section 527 of the Internal Revenue Code that is directly or indirectly controlled by the business entity.

(c) For the purposes of this section, where a corporation owns sufficient shares or voting interest in a second corporation to elect a majority of the directors or trustees of the second corporation, or where a business entity has sufficient control of a second business entity to direct the decision-making of the second business entity, the second corporation or second business entity shall be a subsidiary directly or indirectly controlled by a business entity.

(d) For the purposes of this section, the criteria to be applied to determine whether or not a business entity directly or indirectly controls a continuing political committee shall include, but not be limited to, whether or not the business entity participates as an organizer of the continuing political committee, participates in decision-making with regard to the specific activities of the continuing political committee, or participates in formation of the policies of the continuing political committee.

N.J. Admin. Code § 19:25-26.6