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Title 22, Foreign Relations and IntercourseRelease 119-73not60

§290l–4 Subscription of Stock

Title 22 › Chapter 7— INTERNATIONAL BUREAUS, CONGRESSES, ETC. › Subchapter XXVII— EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT › § 290l–4

Last updated Apr 5, 2026|Official source

Summary

The Secretary of the Treasury may agree for the United States to buy 100,000 shares of the Bank's stock. That promise only becomes effective if Congress provides the money first; Congress may appropriate up to $1,167,010,000 to pay for the purchase, and that money does not expire at the end of a fiscal year. Any payments the Bank makes to the United States from its net income must be sent to the U.S. Treasury and recorded as miscellaneous receipts.

Full Legal Text

Title 22, §290l–4

Foreign Relations and Intercourse, Source: USLM XML via OLRC

(a)(1)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)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)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)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

Apr 5, 2026

Release point: 119-73not60