§ 1102. — LOCAL Television Loan Guarantee Board.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 47USC1102]
TITLE 47--TELEGRAPHS, TELEPHONES, AND RADIOTELEGRAPHS
CHAPTER 10--LOCAL TV
Sec. 1102. LOCAL Television Loan Guarantee Board
(a) Establishment
There is established the LOCAL Television Loan Guarantee Board (in
this chapter referred to as the ``Board'').
(b) Members
(1) In general
Subject to paragraph (2), the Board shall consist of the
following members:
(A) The Secretary of the Treasury, or the designee of the
Secretary.
(B) The Chairman of the Board of Governors of the Federal
Reserve System, or the designee of the Chairman.
(C) The Secretary of Agriculture, or the designee of the
Secretary.
(D) The Secretary of Commerce, or the designee of the
Secretary.
(2) Requirement as to designees
An individual may not be designated a member of the Board under
paragraph (1) unless the individual is an officer of the United
States pursuant to an appointment by the President, by and with the
advice and consent of the Senate.
(c) Functions of the Board
(1) In general
The Board shall determine whether or not to approve loan
guarantees under this chapter. The Board shall make such
determinations consistent with the purpose of this chapter and in
accordance with this subsection and section 1103 \1\ of this title.
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\1\ See References in Text note below.
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(2) Consultation authorized
(A) In general
In carrying out its functions under this chapter, the Board
shall consult with such departments and agencies of the Federal
Government as the Board considers appropriate, including the
Department of Commerce, the Department of Agriculture, the
Department of the Treasury, the Department of Justice, the
Department of the Interior, the Board of Governors of the
Federal Reserve System, the Federal Communications Commission,
the Federal Trade Commission, and the National Aeronautics and
Space Administration.
(B) Response
A department or agency consulted by the Board under
subparagraph (A) shall provide the Board such expertise and
assistance as the Board requires to carry out its functions
under this chapter.
(3) Approval by majority vote
The determination of the Board to approve a loan guarantee under
this chapter shall be by an affirmative vote of not less than 3
members of the Board.
(Pub. L. 106-553, Sec. 1(a)(2) [title X, Sec. 1003], Dec. 21, 2000, 114
Stat. 2762, 2762A-128.)
References in Text
This chapter, referred to in subsecs. (a) and (c), was in the
original ``this Act'', and was translated as reading ``this title''. See
References in Text note set out under section 1101 of this title.
Section 1103 of this title, referred to in subsec. (c)(1), was in
the original ``section 4'', and was translated as reading ``section
1004'', meaning section 1004 of title X of H.R. 5548, as enacted by Pub.
L. 106-553, Sec. 1(a)(2), to reflect the probable intent of Congress.
Pub. L. 106-553 does not contain a section 4 and section 1004 relates to
approval of loan guarantees.
Section Referred to in Other Sections
This section is referred to in sections 1103, 1104 of this title.
