(1)

1. (a) Each political action committee shall file a statement of organization with the lieutenant governor's office by January 10 of each year, unless the political action committee has filed a notice of dissolution under Subsection (4).

2. (b) If a political action committee is organized after the January 10 filing date, the political action committee shall file an initial statement of organization no later than seven days after:

   1. (i) receiving contributions totaling at least $750; or
   2. (ii) distributing expenditures for political purposes totaling at least $50.

(2)

1. (a) Each political action committee shall designate two officers who have primary decision-making authority for the political action committee.
2. (b) A person may not exercise primary decision-making authority for a political action committee who is not designated under Subsection (2)(a).

(3) The statement of organization shall include:

1. (a) the name and address of the political action committee;
2. (b) the name, street address, phone number, occupation, and title of the two primary officers designated under Subsection (2)(a);
3. (c) the name, street address, occupation, and title of all other officers of the political action committee;
4. (d) the name and street address of the organization, individual corporation, association, unit of government, or union that the political action committee represents, if any;
5. (e) the name and street address of all affiliated or connected organizations and their relationships to the political action committee;
6. (f) the name, street address, business address, occupation, and phone number of the committee's treasurer or chief financial officer; and
7. (g) the name, street address, and occupation of each member of the governing and advisory boards, if any.

(4)

1. (a) Any registered political action committee that intends to permanently cease operations shall file a notice of dissolution with the lieutenant governor's office.
2. (b) Any notice of dissolution filed by a political action committee does not exempt that political action committee from complying with the financial reporting requirements of this chapter.

(5)

1. (a) Unless the political action committee has filed a notice of dissolution under Subsection (4), a political action committee shall file, with the lieutenant governor's office, notice of any change of an officer described in Subsection (2)(a).

2. (b) Notice of a change of a primary officer described in Subsection (2)(a) shall:

   1. (i) be filed within 10 days of the date of the change; and
   2. (ii) contain the name and title of the officer being replaced, and the name, street address, occupation, and title of the new officer.

(6)

1. (a) A person is guilty of providing false information in relation to a political action committee if the person intentionally or knowingly gives false or misleading material information in the statement of organization or the notice of change of primary officer.

2. (b) Each primary officer designated in Subsection (2)(a) is guilty of accepting an unlawful contribution if the political action committee knowingly or recklessly accepts a contribution from a corporation that:

   1. (i) was organized less than 90 days before the date of the general election; and
   2. (ii) at the time the political action committee accepts the contribution, has failed to file a statement of organization with the lieutenant governor's office as required by Section 20A-11-704.
3. (c) A violation of this Subsection (6) is a third degree felony.