C. A corporation, limited liability company or labor organization may sponsor a separate segregated fund. Employees, members, executives, stockholders and retirees and their families of a corporation, limited liability company or labor organization and any subsidiary or affiliate of a corporation, limited liability company or labor organization may make contributions to the separate segregated fund, subject to the following:

1. 1. The separate segregated fund must register as a political action committee.
2. 2. The sponsor or its affiliate may pay the administrative, personnel and fund-raising expenses of its separate segregated fund, which shall not be deemed contributions to the fund.

3. 3. The sponsor or its separate segregated fund may solicit contributions from the sponsor's, sponsor's affiliates' or sponsor's subsidiaries' employees, members, executives, stockholders and retirees and their families. The following additional restrictions apply:

   1. (a) With respect to an insurer, an insurer or its separate segregated fund may also solicit contributions from an insurance producer's employees, members, executives, stockholders and retirees and their families.
   2. (b) With respect to a trade association or membership organization, the association or organization may solicit contributions from its members' employees, executives, stockholders, subsidiaries and retirees and their families.
4. 4. A sponsor or its affiliate or a trade association or membership organization may facilitate the making of contributions to its separate segregated fund by establishing a payroll deduction system or other similar payment transfer method.
5. 5. A sponsor, trade association, membership organization or separate segregated fund may rely on the federal election commission's written guidance interpreting 52 United States Code section 30118(b) and rules adopted under that section when interpreting this subsection, if otherwise consistent with this article and articles 1, 1.1, 1.3, 1.4, 1.5, 1.6 and 1.7 of this chapter.