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2010 SESSION
10102123DBe it enacted by the General Assembly of Virginia:
1. That the Code of Virginia is amended by adding in Article 2 of Chapter 9.3 of Title 24.2 a section numbered 24.2-946.6 as follows:
§ 24.2-946.6. Prohibited contributions from certain attorneys; penalty.
It shall be unlawful for any attorney, or for any other attorney associated with him or his firm, who has represented or reasonably anticipates the representation of the Virginia Retirement System or any local retirement system, as provided for pursuant to Article 1 (§ 51.1-800 et seq.) of Chapter 8 of Title 51.1, in securities litigation to make (i) a contribution of money or other thing of value, or to make an express or implied promise to make a contribution, in connection with a state or local election to any candidate, campaign committee, or political committee or (ii) an expenditure or independent expenditure in connection with a state or local election. It shall be unlawful for a person, candidate, campaign committee, or political committee to solicit, accept, or receive a contribution from a foreign national.
Any person who violates this section shall be subject to a civil penalty equal to the amount of the prohibited contribution or promised contribution or $500, whichever amount is greater. The attorney for the Commonwealth shall initiate civil proceedings to enforce the civil penalty provided herein. Any civil penalties collected shall be payable to the State Treasurer for deposit to the general fund.