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Title 22, Foreign Relations and IntercourseRelease 119-102

§282c Congressional Authorization Needed for Certain Actions

Title 22 › CHAPTER 7 — INTERNATIONAL BUREAUS, CONGRESSES, ETC. › SUBCHAPTER XI — INTERNATIONAL FINANCE CORPORATION › § 282c

Last updated Aug 21, 2026|Official source

Summary

No one acting for the United States may do certain things for the Corporation unless Congress passes a law allowing it. Those things are: subscribe to extra shares under article II, section 3; accept an amendment under article VII; or make any loan to the Corporation. The United States Governor for the Corporation may agree to change article III to let the Corporation invest its funds in capital stock and to limit how the Corporation votes those shares, unless the Corporation decides voting is needed to protect its interests, as the Board’s resolution of February 20, 1961 says. Also, unless Congress allows it by law, no U.S. governor or alternate may vote for an increase in the Corporation’s capital stock under article II, section 2(c)(ii).

Full Legal Text

Title 22, §282c

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, of the Articles of Agreement of the Corporation; (b) accept any amendment under article VII of the Articles of Agreement of the Corporation; (c) make any loan to the Corporation. The United States Governor of the Corporation is authorized to agree to an amendment to article III of the articles of agreement of the Corporation to authorize the Corporation to make investments of its funds in capital stock and to limit the exercise of voting rights by the Corporation unless exercise of such rights is deemed necessary by the Corporation to protect its interests, as proposed in the resolution submitted by the Board of Directors on February 20, 1961. Unless Congress by law authorizes such action, no governor or alternate representing the United States shall vote for an increase of capital stock of the Corporation under article II, section 2(c)(ii), of the Articles of Agreement of the Corporation.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Amendments

1961—Pub. L. 87–185 authorized acceptance of an amendment to the articles of agreement of the Corporation to permit investment in capital stock and to limit the exercise of voting rights.

Reference

Citations & Metadata

Citation

22 U.S.C. § 282c

Title 22, Foreign Relations and Intercourse

Last Updated

Aug 21, 2026

Release point: 119-102