Abbreviation for Public Advisory Committee. - An abbreviation for Political Action Committee. - An abbreviation for Patent Assistance Center now called the Inventors Assistance Center or IAC, call (toll-free) 1-800-786-9199 or 703-308-4357. (verified as of 2-10-2004)
- n. A kind of moccasin, having the edges of the sole turned up and sewed to the upper.
A Political Action Committee: A PAC is a separate association from the corporation. PACs are expensive to administer and subject to extensive regulations. For example, every PAC must appoint a treasurer, forward donations to the treasurer promptly, keep detailed records of the identities of the persons making donations, preserve receipts for three years, and file an organization statement and report changes to this information within 10 days.
PACs must file detailed monthly reports with the FEC, which are due at different times depending on the type of election that is about to occur: “ ‘These reports must contain information regarding the amount of cash on hand; the total amount of receipts, detailed by 10 different categories; the identification of each political committee and candidate’s authorized or affiliated committee making contributions, and any persons making loans, providing rebates, refunds, ...