Chrysler Corporation Loan Guarantee Act of 1979

[AI summary unavailable — showing source text] Chrysler Corporation Loan Guarantee Act of 1979 - Establishes a Chrysler Corporation Loan Guarantee Board composed of the Secretary of the Treasury, the Chairman of the Board of Governors of the Federal Reserve System, and the Comptroller General of the United States. Designates the Secretary of the Treasury as Chairperson of the Board. Authorizes the Board to make commitments to guarantee loans made to Chrysler, its affiliates, or other entities borrowing funds for the use of Chrysler. Requires the Board, before issuing a commitment, to determine that: (1) such a commitment is needed to enable Chrysler to continue to operate and the failure to meet this need would adversely and seriously affect the employment or economic situation in the United States or any of its regions; (2) Chrysler has submitted a feasible operating plan for its 1980 fiscal year and the next three fiscal years demonstrating its ability to continue as a going concern in the automobile business without additional Federal assistance after December 31, 1983; (3) Chrysler has submitted a satisfactory financial plan which includes at least $1,430,000,000 in funds not guaranteed by the Federal Government, obtained t…