As used in this part:

1. (1)

   1. (A) “Approved political action committee” means any person who:

      1. (i) Receives contributions from one (1) or more persons in order to make contributions to candidates;
      2. (ii) Does not accept any contribution or cumulative contributions in excess of two hundred dollars ($200) from any person in any calendar year; and
      3. (iii) Has been registered with the Secretary of State for at least four (4) continuous months prior to making contributions to candidates.

   2. (B) An approved political action committee shall not include:

      1. (i) An organized political party;
      2. (ii) The candidate’s own campaign committee; or
      3. (iii) An exploratory committee;
2. (2) “Candidate” means any person who has knowingly and willingly taken affirmative action, including solicitation of funds, for the purpose of seeking nomination for or election to any public office;

3. (3)

   1. (A) “Organized political party” means:

      1. (i) Any group of voters which, at the last preceding general election, polled for its candidate for Governor in the state or nominees for presidential electors at least three percent (3%) of the entire vote cast for the office; or

      2. (ii) Any group of voters which:

         1. (a) (a) Files with the Secretary of State a petition signed by qualified electors equal in number to at least three percent (3%) of the total votes cast for the office of Governor or nominees for presidential electors at the last preceding election; and
         2. (b) (b) Declares their intention of:
4. (1) (1) Organizing a political party (the name of which shall be stated in the declaration); and

5. (2) (2) Participating in the next succeeding general election.

   1. (B) Any political party which fails to obtain at least three percent (3%) of the total votes cast at an election for the office of Governor or nominees for presidential electors shall cease to be a political party;

6. (4) “Person” means any:

   1. (A) Individual;
   2. (B) Proprietorship;
   3. (C) Firm;
   4. (D) Partnership;
   5. (E) Joint venture;
   6. (F) Syndicate;
   7. (G) Labor union;
   8. (H) Business trust;
   9. (I) Company;
   10. (J) Corporation;
   11. (K) Association;
   12. (L) Committee; or
   13. (M) Other organization or group of persons acting in concert, including organized political parties;
7. (5) “Public office” means any office created by or under authority of the laws of the State of Arkansas, or of a subdivision thereof, that is filled by the voters, except a federal office; and

8. (6)

   1. (A) “Small donor political action committee” means any person who:

      1. (i) Receives contributions from one (1) or more individuals in order to make contributions to candidates;
      2. (ii) Does not accept any contribution or cumulative contributions in excess of twenty-five dollars ($25.00) from any individual in any calendar year; and
      3. (iii) Is registered with the Secretary of State prior to making contributions to candidates.

   2. (B) A small donor political action committee shall not include:

      1. (i) An organized political party;
      2. (ii) The candidate’s own campaign committee; or
      3. (iii) An exploratory committee.