"Alaska Gov. Sarah Palin began building clout in her state's political circles in part by serving as a director of an independent political group organized by the now embattled Alaska Sen. Ted Stevens.
Palin's name is listed on 2003 incorporation papers of the "Ted Stevens Excellence in Public Service, Inc.," a 527 group that could raise unlimited funds from corporate donors.
...[Palin] served as one of three directors until June 2005, when her name was replaced on state filings.
The Capitol Hill newspaper Roll Call reported that several experts called the group an example of the fine legal line between a legal effort to conduct political activity and then-new prohibitions against raising unlimited soft-money.
Board members of Ted Stevens Excellence in Public Service were legally allowed to raise as much money as they wanted from corporations or unions or unlimited donations from individuals -- all of which would have been illegal for Stevens to do himself. "
http://voices.washingtonpost.com/the-trail/2008/09/01/palin_was_a_director_of_embatt.html
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