Missouri § 130.029 - Corporations and labor organizations may make contributions or expenditures — limited liability companies, applicability, when.

§ 130.029. Corporations and labor organizations may make contributions or expenditures — limited liability companies, applicability, when.

1.  Nothing herein contained shall be construed to prohibit any corporation organized under any general or special law of this state, or any other state or by an act of the Congress of the United States or any labor organization, cooperative association or mutual association from making any contributions or expenditures, provided:

(1)  That the board of directors of any corporation by resolution has authorized contributions or expenditures, or by resolution has authorized a designated officer to make such contributions or expenditures; or

(2)  That the members of any labor organization, cooperative association or mutual association have authorized contributions or expenditures by a majority vote of the members present at a duly called meeting of any such labor organization, cooperative association or mutual association or by such vote has authorized a designated officer to make such contributions or expenditures.

2.  No provision of this section shall be construed to authorize contributions or expenditures otherwise prohibited by, or to change any necessary percentage of vote otherwise required by, the articles of incorporation or association or bylaws of such labor organization, corporation, cooperative or mutual association.

3.  Authority to make contributions or expenditures as authorized by this section shall be adopted by general or specific resolution.  This resolution shall state the total amount of contributions or expenditures authorized, the purposes of such contributions or expenditures and the time period within which such authority shall exist.

4.  (1)  Any limited liability company that is duly registered pursuant to chapter 347 and that has not elected to be classified as a corporation under the federal tax code may make contributions to any committee if the limited liability company has:

(a)  Been in existence for at least one year prior to such contribution; and

(b)  Electronically filed with the Missouri ethics commission indicating that the limited liability company is a legitimate business with a legitimate business interest and is not created for the sole purpose of making campaign contributions.

(2)  The Missouri ethics commission shall develop a method for limited liability companies to use for purposes of paragraph (b) of subdivision (1) of this subsection.  The commission shall post all information submitted pursuant to this subdivision on its website on a public page in a searchable format.

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(L. 1978 S.B. 839, A.L. 2022 H.B. 2400)

---- end of effective  28 Aug 2022 ----

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