§ 451. Extension of credit by regulated industries; regulations

The Secretary of Transportation, the Federal Communications Commission, and the Surface Transportation Board shall each maintain, 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.

(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.)

References In Text

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

Amendments

1996—Pub. L. 104–287 substituted “the Secretary” for “such Secretary”.

1995—Pub. L. 104–88 inserted “or Board” after “or such Commission” and substituted “Surface Transportation Board shall each maintain” for “Interstate Commerce Commission shall each promulgate, within ninety days after February 7, 1972”.

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 Amendment

Effective Date of 1995 Amendment

Amendment by Pub. L. 104–88 effective Jan. 1, 1996, see section 2 of Pub. L. 104–88, set out as an Effective Date note under section 701 of Title 49, Transportation.

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.