§451. Extension of credit by regulated industries; regulations

The Secretary of Transportation, the Federal Communications Commission, and the Interstate Commerce Commission shall each promulgate, within ninety days after February 7, 1972, its own regulations with respect to the extension of credit, without security, by any person regulated by such Secretary under subpart II of part A of subtitle VII of title 49, or such Commission, 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.

( 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 .)

References in Text

Subpart II of part A of subtitle VII of title 49, referred to in text, is set out in section 41101 et seq. of Title 49, Transportation.

Amendments

1994-Pub. L. 103–272 substituted "Secretary of Transportation" for "Civil Aeronautics Board" and "Secretary under subpart II of part A of subtitle VII of title 49, or such Commission," for "Board or Commission".

1974-Pub. L. 93–443 struck out "(as such term is defined in section 431(c) of this title)" after "Federal office".

Effective Date of 1974 Amendment

Amendment by Pub. L. 93–443 effective Jan. 1, 1975, see section 410(a) of Pub. L. 93–443, set out as a note under section 431 of this title.