Title 22 — Foreign Relations and IntercourseRelease 119-73

§285o Expropriation of United States property; loan restrictions

Title 22 › Chapter CHAPTER 7— - INTERNATIONAL BUREAUS, CONGRESSES, ETC. › Subchapter SUBCHAPTER XIV— - ASIAN DEVELOPMENT BANK › § 285o

Last updated Apr 6, 2026|Official source

Summary

The President must tell the United States Executive Director at the Asian Development Bank to vote against any loan or other use of the Bank’s funds that would help a country that has done one of the following. It has taken ownership or control of property owned by U.S. citizens or by companies at least 50 percent U.S.-owned; canceled or refused to honor contracts with those U.S. owners; or used discriminatory taxes, fees, rules, or other actions that effectively seize or nationalize that property.

Full Legal Text

Title 22, §285o

Foreign Relations and Intercourse — Source: USLM XML via OLRC

The President shall instruct the United States Executive Director of the Asian Development Bank to vote against any loan or other utilization of the funds of the Bank for the benefit of any country which has—

(1)nationalized or expropriated or seized ownership or control of property owned by any United States citizen or by any corporation, partnership, or association not less than 50 per centum of which is beneficially owned by United States citizens;

(2)taken steps to repudiate or nullify existing contracts or agreements with any United States citizen or any corporation, partnership, or association not less than 50 per centum of which is beneficially owned by United States citizens; or

(3)imposed or enforced discriminatory taxes or other exaction, or restrictive maintenance or operational conditions, or has taken other actions, which have the effect of nationalizing, expropriating, or otherwise seizing ownership or control of property so owned;

Reference

Citations & Metadata

Citation

22 U.S.C. § 285o

Title 22 — Foreign Relations and Intercourse

Last Updated

Apr 6, 2026

Release point: 119-73