[Joe Bob]

Most owners or rebuilders opt to upgrade to an internal regulator. If you are have voltage spikes verified by a meter it could also be an alternator problem.

Regulators are on the left side of the engine bay. If it is missing it's likely the situation above. Maybe time for a rebuild. Best to have it done locally as a lot of remans fail quickly or even out of the box. They MAY have a life warranty but you are the hook for labor to install it.