Title 50 — War and National Defense
Chapter 55 — Defense Production
§ 4512. Hoarding of designated scarce materials
Statutory text
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.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
the Defense Production Act of 1950
Pub. L. 81–932 · 64 Stat. 798
Enacted · 50 U.S.C. § 4512
Sept. 8, 1950, ch. 932, title I, § 102, 64 Stat. 799
Source evidence
Code source credit
Sept. 8, 1950, ch. 932, title I, § 102, 64 Stat. 799
0 of 1 references resolved to an enrolled provision · 1 partial
Notes
Termination of Section
For termination of section, see section 4564(a) of this title.
Editorial Notes
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 , authorized President to prescribe conditions and exceptions allowing maintenance of substantial inventories of critical materials in certain cases.
Executive Documents
Delegation of Functions
Authorities of President under this section with respect to health and medical resources needed to respond to the spread of COVID–19 within the United States delegated to Secretary of Homeland Security, see section 4 of Ex. Ord. No. 13911, , 85 F.R. 18404, set out as a note under section 4511 of this title.
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, , 39 F.R. 23185, set out as a note under section 761 of Title 15, Commerce and Trade.
Executive Order No. 13910
Ex. Ord. No. 13910, , 85 F.R. 17001, which delegated authority of President under this section to prevent hoarding of health and medical resources necessary to respond to the spread of COVID–19 within the United States to the Secretary of Health and Human Services, was revoked by Ex. Ord. No. 14122, § 2, , 89 F.R. 27355, set out in a note under section 300hh–3 of Title 42, The Public Health and Welfare.
Credits
1950–1951 · 2 acts
- 1950Sept. 8, 1950, ch. 932, title I, § 102, 64 Stat. 799
- 1951July 31, 1951, ch. 275, title I, § 101(b), 65 Stat. 132.
Show as published
(Sept. 8, 1950, ch. 932, title I, § 102, 64 Stat. 799; July 31, 1951, ch. 275, title I, § 101(b), 65 Stat. 132.)