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Codified Statutes
- U.S. Code
- TITLE 50 — WAR AND NATIONAL DEFENSE
- CHAPTER 55 — DEFENSE PRODUCTION(§§ 4501 to 4568)
- SUBCHAPTER I — PRIORITIES AND ALLOCATIONS(§§ 4511 to 4518)
50 U.S.C. § 4512. Hoarding of designated scarce materials
In order to prevent hoarding, no person shall accumulate (1) in excess of the reasonable
demands of business, personal, or home consumption, or (2) for the purpose of resale
at prices in excess of prevailing market prices, materials which have been designated
by the President as scarce materials or materials the supply of which would be threatened
by such accumulation. The President shall order published in the Federal Register,
and in such other manner as he may deem appropriate, every designation of materials
the accumulation of which is unlawful and any withdrawal of such designation. In making
such designations the President may prescribe such conditions with respect to the
accumulation of materials in excess of the reasonable demands of business, personal,
or home consumption as he deems necessary to carry out the objectives of this chapter.
This section shall not be construed to limit the authority contained in sections 4511 and 4554 of this title.
Sept. 8, 1950, ch. 932, title I, Sec. 102, 64 Stat. 799; July 31, 1951, ch. 275, title I, Sec. 101(b), 65 Stat. 132.
TERMINATION OF SECTION
For termination of section, see section 4564(a) of this title.
REFERENCES IN TEXT
This chapter, referred to in text, was in the original "this Act", meaning act Sept.
8, 1950, ch. 932, 64 Stat. 798, known as the Defense Production Act of 1950, which is classified principally to this chapter. For complete classification of
this Act to the Code, see section 4501 of this title and Tables.
CODIFICATION
Section was formerly classified to section 2072 of the former Appendix to this title
prior to editorial reclassification and renumbering as this section.
AMENDMENTS
1951--Act July 31, 1951, authorized President to prescribe conditions and exceptions
allowing maintenance of substantial inventories of critical materials in certain cases.
DELEGATION OF FUNCTIONS
Functions of President under this chapter relating to production, conservation, use,
control, distribution, and allocation of energy, delegated to Secretary of Energy,
see section 4 of Ex. Ord. No. 11790, June 25, 1974, 39 F.R. 23185, set out as a note
under section 761 of Title 15, Commerce and Trade.