PRIA, Government Policy, Made Personal

Summary

The President may agree that the United States will buy 29,820 shares of the Bank, but the purchase counts only if Congress provides the money first. Up to $359,733,570 can be appropriated without a fiscal year limit to pay for that subscription, and no more than $17,986,679 may be used for paid-in subscriptions in each of fiscal years 1982, 1983, and 1984. Any money the Bank pays or returns to the United States must be deposited into the Treasury as a miscellaneous receipt.

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.

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.

§290i–6 Subscription to Stock

Summary

Title 22, §290i–6

Notes & Related Subsidiaries

Executive Documents

Citations & Metadata