From AJC: Insurance companies funnel $120,000 to Oxendine's campaign for governor

[groundloop]

http://www.ajc.com/news/content/metro/stories//2009/05/10/oxendine_campaign_funding_governor.html


Two Georgia insurance companies with the same boss funneled $120,000 — nearly 10 times the legal limit — to Insurance Commissioner John Oxendine’s campaign for governor, records in Georgia and Alabama show.

The documents show Oxendine, who wields regulatory power over all insurance companies in Georgia, received the money through 10 Alabama-based political action committees set up by Donald V. Watkins, a director of Admiral Life Insurance Co. of America and State Mutual Insurance. Both companies are headed by prominent businessman Delos “Dee” Yancey III and are run out of the same building in Rome.

Georgia’s Ethics-in-Government Act prohibits officials from taking money directly from companies they regulate. The law also prohibits funneling money through multiple PACs to get around contribution limits of $12,200 per candidate in an election cycle......