Title 22 — Foreign Relations and IntercourseRelease 119-73not60
§285o Expropriation of United States Property; Loan Restrictions
Title 22 › Chapter 7— INTERNATIONAL BUREAUS, CONGRESSES, ETC. › Subchapter XIV— ASIAN DEVELOPMENT BANK › § 285o
Summary
The President must tell the U.S. Director at the Asian Development Bank to vote no on loans or use of bank funds for any country that seizes property of U.S. citizens or companies 50 percent or more U.S.-owned, cancels contracts with them, or uses taxes or rules to effectively take their 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 5, 2026
Release point: 119-73not60