(a) The governing body of a charter holder shall adopt policies implementing the disclosure requirements of State Board of Education Operating Rule, §4.3 (Disclosure of Campaign Contributions and Gifts), or its successor, and shall insure compliance by:(1) the members of the governing body of the charter holder and charter school;(2) the employees and agents of the charter holder and charter school; and(3) any management company under contract with the charter holder or charter school.(b) The governing body of a charter holder shall insure that no state funds are expended by the charter holder, the charter school, or its management company for any political advertising within the meaning of Texas Election Code, §251.001(16), as interpreted by the advisory opinions of the Texas Ethics Commission.