Sec. 21.4  Eligibility for station license.

    A station license may not be granted to or held by:
    (a) Any alien or the representative of any alien.
    (b) Any foreign government or the representative thereof.
    (c) Any corporation organized under the laws of any foreign 
government.
    (d) Any corporation of which more than one-fifth of the capital 
stock is owned of record or voted by: aliens or their representatives; a 
foreign government or representatives thereof; or any corporation 
organized under the laws of a foreign country.
    (e) Any corporation directly or indirectly controlled by any other 
corporation of which more than one-fourth of the capital stock is owned 
of record or voted by aliens or their representatives, or by a foreign 
government or representative thereof, or by any corporation organized 
under the laws of a foreign government, if the Commission finds that the 
public interest will be

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served by the refusal or revocation of such license.
[ 44 FR 60534 , Oct. 19, 1979, as amended at  61 FR 55580 , Oct. 28, 1996]