N.J. Admin. Code § 19:25-15.61

Current through Register Vol. 56, No. 11, June 3, 2024

Section 19:25-15.61 - Inaugural event contributions from affiliated corporations or unions

(a) A corporation, association or labor organization or any subsidiary, affiliate, branch, division, department or local unit of any such corporation, association or labor organization shall not make any contribution to a gubernatorial fund raising event which, when added to any other contribution by any related or affiliated corporation, association or labor organization, exceeds $ 500.00 in the aggregate. Whether such corporation, association or labor organization is related or affiliated shall depend on the circumstances existing at the time of such contribution, including, but not by way of limitation, the degree of control or common ownership with related or affiliated corporations, associations or labor organizations, the source and control of funds used for such contributions and the degree to which the decisions whether or not to contribute, to what candidate and in what amount are independent decisions.

(b) For the purposes of (a) above, two or more corporations shall be considered affiliated where one individual owns more than a 30 percent interest in each of two or more corporations or where one corporation owns more than a 30 percent interest in each of one or more corporations.

New Rule, R.1986 d.225, effective 6/16/1986.
See: 18 N.J.R. 631(a), 18 N.J.R. 1311(b).
Amended by R.1989 d.341, effective 6/5/1989.
See: 21 N.J.R. 1109(a), 21 N.J.R. 1837(a).
Recodified from N.J.A.C. 19:25-15.49 and increased inaugural event contribution limit from $ 250.00 to $ 500.00.
Amended by R.1996 d.583, effective 12/16/1996.
See: 28 N.J.R. 4395(b), 28 N.J.R. 5199(a).
Added (b).