Title 22 — Foreign Relations and IntercourseRelease 119-73
§290i–6 Subscription to stock
Title 22 › Chapter CHAPTER 7— - INTERNATIONAL BUREAUS, CONGRESSES, ETC. › Subchapter SUBCHAPTER XXIV— - AFRICAN DEVELOPMENT BANK › § 290i–6
Summary
President may subscribe for 29,820 Bank shares for the United States only to the extent Congress provides the money. Congress may appropriate $359,733,570 (no fiscal year limit) to pay that subscription, but no more than $17,986,679 in fiscal years 1982–1984 for paid‑in subscriptions. Bank payments to the United States must go into the Treasury as miscellaneous receipts.
Full Legal Text
Title 22, §290i–6
Foreign Relations and Intercourse — Source: USLM XML via OLRC
(a)The President is authorized to agree to subscribe on behalf of the United States to twenty-nine thousand eight hundred and twenty shares of the capital stock of the Bank: Provided, however, That the subscription shall be effective only to such extent or in such amounts as are provided in advance in appropriations Acts.
(b)There is authorized to be appropriated, without fiscal year limitation, for payment by the Secretary of the Treasury of the initial United States subscription to twenty-nine thousand eight hundred and twenty shares of the capital stock of the Bank, $359,733,570: Provided, however, That not more than $17,986,679 of such sum may be made available for paid in subscriptions to the Bank for each of the fiscal years 1982, 1983, and 1984.
(c)Any payment or distributions of moneys from the Bank to the United States shall be covered into the Treasury as a miscellaneous receipt.
Legislative History
Notes & Related Subsidiaries
Executive Documents
Delegation of Functions Functions of President under subsec. (a) delegated to Secretary of the Treasury, see Ex. Ord. No. 12403, Feb. 8, 1983, 48 F.R. 6087.
Reference
Citations & Metadata
Citation
22 U.S.C. § 290i–6
Title 22 — Foreign Relations and Intercourse
Last Updated
Apr 6, 2026
Release point: 119-73