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U.S. Code as of:
01/19/04
Section 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.
(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.
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