You guys might want to check out Federal Elections law, specifically 11CFR114.2:
National banks and corporations organized by authority of any law of Congress are prohibited form making expenditures as defined in 11 FR 114.1(a) for communications to those outside the restricted class expressly advocating the election or defeat of one or more clearly identified candidate(s) or the candidates of a clearly identified political party, with respect to an election to any political office, including any local, State or Federal office.
(2) Except as provided at 11 CFR 114.10, corporations and labor organizations are prohibited from:
(i) Making expenditures as defined in 11 CFR part 100, subpart D;
(ii) Making expenditures with respect to a Federal election (as defined in 11 CFR 114.1(a)), for communications to those outside the restricted class that expressly advocate the election or defeat of one or more clearly identified candidate(s) or the candidates of a clearly identified political party; or
(iii) Making payments for an electioneering communication to those outside the restricted class.
Sec. 100.29 Electioneering communication (2 U.S.C. 434(f)(3)).
(a) Electioneering communication means any broadcast, cable, or satellite communication that:
(1) Refers to a clearly identified candidate for Federal office;
(2) Is publicly distributed within 60 days before a general election for the office sought by the candidate; or within 30 days before a primary or preference election, or a convention or caucus of a political party that has authority to nominate a candidate, for the office sought by the candidate, and the candidate referenced is seeking the nomination of that political party; and
(3) Is targeted to the relevant electorate, in the case of a candidate for Senate or the House of Representatives.