Title 22, Foreign Relations and IntercourseRelease 119-110
§290l–4 Subscription of Stock
Title 22 › CHAPTER 7 — INTERNATIONAL BUREAUS, CONGRESSES, ETC. › SUBCHAPTER XXVII — EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT › § 290l–4
Summary
The Secretary of the Treasury may buy 100,000 shares of the Bank for the United States, but that promise only counts if Congress provides the money first. Congress may set aside $1,167,010,000 to pay for the shares, and any Bank profit paid to the U.S. must be deposited into the Treasury as a miscellaneous receipt.
Full Legal Text
Title 22, §290l–4
Foreign Relations and Intercourse, Source: USLM XML via OLRC
(a)Subscription authority
(1)In general
The Secretary of the Treasury may subscribe on behalf of the United States to 100,000 shares of the capital stock of the Bank.
(2)Effectiveness of subscription commitment
Any commitment to make such subscription shall be effective only to such extent or in such amounts as are provided for in advance by appropriations Acts.
(b)Limitations on authorization of appropriations
For payment by the Secretary of the Treasury of the subscription of the United States for shares described in subsection (a), there are authorized to be appropriated $1,167,010,000 without fiscal year limitation.
(c)Disposition of net income distributions by Bank
Any payment made to the United States by the Bank as a distribution of net income shall be covered into the Treasury as a miscellaneous receipt.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Codification Subsecs. (a) to (c) were in the original (A) to (C), respectively, and pars. (1) and (2) of subsec. (a) were in the original (i) and (ii), respectively, and were editorially redesignated for purposes of codification.
Statutory Notes and Related Subsidiaries
First General Capital Increase Pub. L. 105–118, title V, § 560(a), Nov. 26, 1997, 111 Stat. 2425, provided in part that the Secretary of the Treasury may, to effect the United States participation in the first general capital increase of the European Bank for Re
Construction
and Development, subscribe to and make payment for 100,000 additional shares of the capital stock of the Bank on behalf of the United States, and authorized $285,772,500 for paid-in capital and $984,327,500 for callable capital of the European Bank for Re
Construction
and Development to be appropriated without fiscal year limitation, subject to obtaining the necessary appropriations.
Reference
Citations & Metadata
Citation
22 U.S.C. § 290l–4
Title 22, Foreign Relations and Intercourse
Last Updated
Sep 22, 2026
Release point: 119-110