Title 22, Foreign Relations and IntercourseRelease 119-73not60

§290o–4 Subscription of Stock

Title 22 › Chapter 7— INTERNATIONAL BUREAUS, CONGRESSES, ETC. › Subchapter XXX— MIDDLE EAST DEVELOPMENT BANK › § 290o–4

Last updated Apr 5, 2026|Official source

Summary

The Treasury Secretary can buy up to 7,011,270 shares of the Bank’s capital stock for the United States. Any promise to buy those shares only counts if Congress has approved the money first. Congress may provide up to $1,050,007,800 to pay for the shares, with no fiscal year limit. Of that money, no more than $105,000,000 can be used for paid-in capital, and no more than $52,500,000 of the funds for fiscal year 1997 can be used for paid-in capital. No more than $787,505,852 can be used for callable capital. Any payments the Bank makes to the United States from its net income must be turned into the Treasury as a miscellaneous receipt.

Full Legal Text

Title 22, §290o–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 not more than 7,011,270 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 $1,050,007,800 without fiscal year limitation.

(c)(1)(A)Not more than $105,000,000 of the amounts appropriated pursuant to subsection (b) may be obligated for subscription to shares of paid-in capital stock.

(B)Not more than $52,500,000 of the amounts appropriated pursuant to subsection (b) for fiscal year 1997 may be obligated for subscription to shares of paid-in capital stock.

(2)Not more than $787,505,852 of the amounts appropriated pursuant to subsection (b) may be obligated for subscription to shares of callable capital stock.

(d)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.

Reference

Citations & Metadata

Citation

22 U.S.C. § 290o–4

Title 22, Foreign Relations and Intercourse

Last Updated

Apr 5, 2026

Release point: 119-73not60