52 U.S.C. § 30141 — Extension of credit by regulated industries; regulations
submitted 54 years ago by Pub. L. 92-225 to r/title-52-VOTING-AND-ELECTIONS · 92 words · no verdicts yet
The Secretary of Transportation, the FCC, and the Surface Transportation Board must each keep their own rules on lending money without collateral to federal candidates. These rules cover businesses those agencies regulate that give a candidate, or someone acting for a candidate, unsecured credit for campaign goods or services.
The Secretary of Transportation, the Federal Communications Commission, and the Surface Transportation Board must each keep their own regulations on the same topic: a business regulated by that agency extending credit — meaning lending something of value without requiring security or collateral — to a candidate for federal office, or to someone acting on that candidate's behalf. This applies when the credit pays for goods or services used in the candidate's campaign, whether the candidate is seeking the nomination or running in the general election. The Secretary of Transportation regulates this for businesses covered by a specific part of Title 49 dealing with transportation; the FCC regulates communications businesses; and the Surface Transportation Board regulates surface transportation businesses. Each of the three agencies must maintain its own set of regulations covering its own regulated industry.
The Secretary of Transportation, the Federal Communications Commission, and the Surface Transportation Board shall each maintain,1 its own regulations with respect to the extension of credit, without security, by any person regulated by the Secretary under subpart II of part A of subtitle VII of title 49, or such Commission or Board, to any candidate for Federal office, or to any person on behalf of such a candidate, for goods furnished or services rendered in connection with the campaign of such candidate for nomination for election, or election, to such office.
Source credit: (Pub. L. 92–225, title IV, § 401, Feb. 7, 1972, 86 Stat. 19; Pub. L. 93–443, title II, § 201(b)(1), Oct. 15, 1974, 88 Stat. 1275; Pub. L. 103–272, § 4(a), July 5, 1994, 108 Stat. 1360; Pub. L. 104–88, title III, § 313, Dec. 29, 1995, 109 Stat. 948; Pub. L. 104–287, § 6(g), Oct. 11, 1996, 110 Stat. 3399.)
- 1972Enacted · Pub. L. 92-225 · 86 Stat. 19
- 1974Amended · Pub. L. 93-443 · 88 Stat. 1275
- 1994Amended · Pub. L. 103-272 · 108 Stat. 1360
- 1995Amended · Pub. L. 104-88 · 109 Stat. 948
- 1996Amended · Pub. L. 104-287 · 110 Stat. 3399
A history note hasn’t been published yet. The record shows enactment by Pub. L. 92-225 on 1972-02-07.
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