Public Utility Interlocking Directorate Act

[AI summary unavailable — showing source text] Public Utility Interlocking Directorate Act - Makes it unlawful under the Federal Power Act for any person to: (1) hold the position of officer or director of more than one public utility; (2) hold the position of (a)officer or director of a public utility and the position of officer, director, partner, appointee, or representative of any bank,savings and loan association, foreign bank or subsidiary (doing business in the United States), insurance company, or any other organization providing financial services or credit; (6) officer, director, partner, appointee, or representative of any firm that is authorized by law to underwrite or participate in the marketing of securities of a public utility; or (c) officer or director of any company or firm which produces or supplies electrical equipment or coal, gas, oil, nuclear material or other fuel, for the use of public utilities; or (d) officer, director, partner, appointee, or representative of any corporation, firm, or organization which is controlled by any company, firm, or organization referred to above; unless the holding of such positions shall have been authorized by order of the Federal Power Commission, that upon a finding th…