Stephen Colbert and Jon Stewart Stephen Colbert and Jon Stewart

Stephen Colbert knows you can't control a Super PAC and run for president. And after hearing the advice of his lawyer and former Federal Election Commission Chairman Trevor Potter, he reluctantly knows you can't coordinate with the Super PAC. So he handed off the reins to someone he barely knowsJon Stewart

The Comedy Central host has joked about Super PACs and their coordinating "rules" for some time, while suggesting his eventual run for the White House. On Thursday night's broadcast of Colbert Report, he stated his notions to run in the primary of his native state, South Carolina.

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After Colbert signed the papers transferring the Super PAC, he and Stewart made it clear — poking fun at the rules — that being business partners would not count as them coordinating.

"Being business partners does not count as coordination, legally," a grinning Potter concurred.

Watch the clip: