                          TITLE 2--THE CONGRESS
 
                 CHAPTER 14--FEDERAL ELECTION CAMPAIGNS
 
           SUBCHAPTER I--DISCLOSURE OF FEDERAL CAMPAIGN FUNDS
 
Sec. 441b. Contributions or expenditures by national banks, 
        corporations, or labor organizations
        
    (a) It is unlawful for any national bank, or any corporation 
organized by authority of any law of Congress, to make a contribution or 
expenditure in connection with any election to any political office, or 
in connection with any primary election or political convention or 
caucus held to select candidates for any political office, or for any 
corporation whatever, or any labor organization, to make a contribution 
or expenditure in connection with any election at which presidential and 
vice presidential electors or a Senator or Representative in, or a 
Delegate or Resident Commissioner to, Congress are to be voted for, or 
in connection with any primary election or political convention or 
caucus held to select candidates for any of the foregoing offices, or 
for any candidate, political committee, or other person knowingly to 
accept or receive any contribution prohibited by this section, or any 
officer or any director of any corporation or any national bank or any 
officer of any labor organization to consent to any contribution or 
expenditure by the corporation, national bank, or labor organization, as 
the case may be, prohibited by this section.
    (b)(1) For the purposes of this section the term ``labor 
organization'' means any organization of any kind, or any agency or 
employee representation committee or plan, in which employees 
participate and which exists for the purpose, in whole or in part, of 
dealing with employers concerning grievances, labor disputes, wages, 
rates of pay, hours of employment, or conditions of work.
    (2) For purposes of this section and section 79l(h) of title 15, the 
term ``contribution or expenditure'' shall include any direct or 
indirect payment, distribution, loan, advance, deposit, or gift of 
money, or any services, or anything of value (except a loan of money by 
a national or State bank made in accordance with the applicable banking 
laws and regulations and in the ordinary course of business) to any 
candidate, campaign committee, or political party or organization, in 
connection with any election to any of the offices referred to in this 
section, but shall not include (A) communications by a corporation to 
its stockholders and executive or administrative personnel and their 
families or by a labor organization to its members and their families on 
any subject; (B) nonpartisan registration and get-out-the-vote campaigns 
by a corporation aimed at its stockholders and executive or 
administrative personnel and their families, or by a labor organization 
aimed at its members and their families; and (C) the establishment, 
administration, and solicitation of contributions to a separate 
segregated fund to be utilized for political purposes by a corporation, 
labor organization, membership organization, cooperative, or corporation 
without capital stock.
    (3) It shall be unlawful--
        (A) for such a fund to make a contribution or expenditure by 
    utilizing money or anything of value secured by physical force, job 
    discrimination, financial reprisals, or the threat of force, job 
    discrimination, or financial reprisal; or by dues, fees, or other 
    moneys required as a condition of membership in a labor organization 
    or as a condition of employment, or by moneys obtained in any 
    commercial transaction;
        (B) for any person soliciting an employee for a contribution to 
    such a fund to fail to inform such employee of the political 
    purposes of such fund at the time of such solicitation; and
        (C) for any person soliciting an employee for a contribution to 
    such a fund to fail to inform such employee, at the time of such 
    solicitation, of his right to refuse to so contribute without any 
    reprisal.

    (4)(A) Except as provided in subparagraphs (B), (C), and (D), it 
shall be unlawful--
        (i) for a corporation, or a separate segregated fund established 
    by a corporation, to solicit contributions to such a fund from any 
    person other than its stockholders and their families and its 
    executive or administrative personnel and their families, and
        (ii) for a labor organization, or a separate segregated fund 
    established by a labor organization, to solicit contributions to 
    such a fund from any person other than its members and their 
    families.

    (B) It shall not be unlawful under this section for a corporation, a 
labor organization, or a separate segregated fund established by such 
corporation or such labor organization, to make 2 written solicitations 
for contributions during the calendar year from any stockholder, 
executive or administrative personnel, or employee of a corporation or 
the families of such persons. A solicitation under this subparagraph may 
be made only by mail addressed to stockholders, executive or 
administrative personnel, or employees at their residence and shall be 
so designed that the corporation, labor organization, or separate 
segregated fund conducting such solicitation cannot determine who makes 
a contribution of $50 or less as a result of such solicitation and who 
does not make such a contribution.
    (C) This paragraph shall not prevent a membership organization, 
cooperative, or corporation without capital stock, or a separate 
segregated fund established by a membership organization, cooperative, 
or corporation without capital stock, from soliciting contributions to 
such a fund from members of such organization, cooperative, or 
corporation without capital stock.
    (D) This paragraph shall not prevent a trade association or a 
separate segregated fund established by a trade association from 
soliciting contributions from the stockholders and executive or 
administrative personnel of the member corporations of such trade 
association and the families of such stockholders or personnel to the 
extent that such solicitation of such stockholders and personnel, and 
their families, has been separately and specifically approved by the 
member corporation involved, and such member corporation does not 
approve any such solicitation by more than one such trade association in 
any calendar year.
    (5) Notwithstanding any other law, any method of soliciting 
voluntary contributions or of facilitating the making of voluntary 
contributions to a separate segregated fund established by a 
corporation, permitted by law to corporations with regard to 
stockholders and executive or administrative personnel, shall also be 
permitted to labor organizations with regard to their members.
    (6) Any corporation, including its subsidiaries, branches, 
divisions, and affiliates, that utilizes a method of soliciting 
voluntary contributions or facilitating the making of voluntary 
contributions, shall make available such method, on written request and 
at a cost sufficient only to reimburse the corporation for the expenses 
incurred thereby, to a labor organization representing any members 
working for such corporation, its subsidiaries, branches, divisions, and 
affiliates.
    (7) For purposes of this section, the term ``executive or 
administrative personnel'' means individuals employed by a corporation 
who are paid on a salary, rather than hourly, basis and who have 
policymaking, managerial, professional, or supervisory responsibilities.

(Pub. L. 92-225, title III, Sec. 316, formerly Sec. 321, as added Pub. 
L. 94-283, title I, Sec. 112(2), May 11, 1976, 90 Stat. 490; renumbered 
Sec. 316 and amended Pub. L. 96-187, title I, Secs. 105(5), 112(d), Jan. 
8, 1980, 93 Stat. 1354, 1366.)


                               Amendments

    1980--Subsec. (b)(4)(B). Pub. L. 96-187, Sec. 112(d), substituted 
``It'' for ``it''.


                    Effective Date of 1980 Amendment

    Amendment by Pub. L. 96-187 effective Jan. 8, 1980, see section 
301(a) of Pub. L. 96-187, set out as a note under section 431 of this 
title.

                  Section Referred to in Other Sections

    This section is referred to in sections 432, 433, 437g, 441c of this 
title.
