§283c — Title 22 Foreign Relations and Intercourse | U.S. Code

Summary

No one acting for the United States may do certain things with the Bank or the Fund unless Congress passes a law allowing it. They may not buy extra shares under article II, section 3 or article IIA, section 2; ask for or agree to a U.S. quota change under article IV, section 3; accept an amendment under article XII; or lend or give money to the Bank. A U.S. agency created by Congress that is already allowed by law to lend to international organizations may still make loans or provide financing. Unless Congress approves, any U.S. governor or alternate may not vote for an increase in the Bank’s capital under article II, section 2 or article IIA, section 1, or for more resources for the Fund for Special Operations under article IV, section 3(g).

Title 22, §283c

Foreign Relations and Intercourse — Source: USLM XML via OLRC

Unless Congress by law authorizes such action, neither the President nor any person or agency shall, on behalf of the United States, (a) subscribe to additional shares of stock under article II, section 3, or article IIA, section 2, of the agreement; (b) request or consent to any change in the quota of the United States under article IV, section 3, of the agreement; (c) accept any amendment under article XII of the agreement; or (d) make a loan or provide other financing to the Bank, except that loans or other financing may be provided to the Bank by a United States agency created pursuant to an Act of Congress which is authorized by law to make loans or provide other financing to international organizations. Unless Congress by law authorizes such actions, no governor or alternate appointed to represent the United States shall vote for any increase of capital stock of the Bank under article II, section 2, or article IIA, section 1, of the agreement or any increase in the resources of the Fund for Special Operations under article IV, section 3(g) thereof.

Notes & Related Subsidiaries

Editorial Notes

Amendments

1976—Pub. L. 94–302 inserted “, or article IIA, section 2,” after “article II, section 3” and “or article IIA, section 1,” after “article II, section 2,”.

Statutory Notes and Related Subsidiaries

Effective Date

of 1976 Amendment Pub. L. 94–302, title I, § 103(b), May 31, 1976, 90 Stat. 593, provided that: “The

Amendments

made by paragraphs (2) and (3) of this section [amending this section and section 283h of this title] shall become effective upon approval by the Board of Governors of the Bank of the resolutions referred to in section 23 of the Inter-American Development Bank Act (22 U.S.C. 283 et seq.).”

§283c Congressional authorization needed for certain actions

Summary

Title 22, §283c

Notes & Related Subsidiaries

Editorial Notes

Amendments

Statutory Notes and Related Subsidiaries

Effective Date

Amendments

Citations & Metadata