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El. Bd. Op. 1978-11

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Establishment of separate segregated fund by affiliated corporations: Where two corporations are independently incorporated but affiliated for certain purposes, they may each establish a separate segregated fund if (1) neither corporation provides money or other assets for the operation of the other's fund, and (2) neither corporation exercises a significant degree of control over the management of the other's fund. §11.38 (l)(a)2., Stats. (Issued to W. Pharis Horton, July 20, 1978)

This opinion was reviewed by the Government Accountability Board pursuant to 2007 Wisconsin Act 1 and was reaffirmed on October 6, 2008.