(1) Each political committee shall file a statement of organization which must be received by the Secretary of State no later than forty-eight (48) hours after:
(a) Receipt of contributions aggregating in excess of Two Hundred Dollars ($200.00), or
(b) Having made expenditures aggregating in excess of Two Hundred Dollars ($200.00).
(2) The content of the statement of organization of a political committee shall include:
(a) The name, address, officers, and members of the committee;
(b) The designation of a chair of the organization and a custodian of the financial books, records and accounts of the organization, who shall be designated treasurer; and
(c) If the committee is authorized by a candidate, then the name, address, office sought and party affiliation of the candidate.
(3) Any change in information previously submitted in a statement of organization shall be reported and noted on the next regularly scheduled report.
(4) In addition to any other penalties provided by law, the Mississippi Ethics Commission may impose administrative penalties against any political committee that fails to comply with the requirements of this section in an amount not to exceed Five Thousand Dollars ($5,000.00) per violation. The notice, hearing and appeals provisions of Section 23-15-813 shall apply to any action taken pursuant to this subsection (4). The Mississippi Ethics Commission may pursue judicial enforcement of any penalties issued pursuant to this section.
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