Title 22, Foreign Relations and IntercourseRelease 119-110

§290o–4 Subscription of Stock

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

Last updated Sep 22, 2026|Official source

Summary

The Secretary of the Treasury may agree to subscribe for up to 7,011,270 shares of the Bank’s capital stock for the United States. Any such agreement only takes effect if Congress provides the money first. Congress may appropriate up to $1,050,007,800 (no fiscal year limit) to pay for the subscription. Of that amount, no more than $105,000,000 may be used for paid-in capital (and no more than $52,500,000 of the fiscal year 1997 portion), and no more than $787,505,852 may be used for callable capital. Any net income payments the Bank makes to the United States must be deposited into the Treasury as miscellaneous receipts.

Full Legal Text

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

(c)Limitations on obligation of appropriated amounts for shares of capital stock

(1)Paid-in capital stock

(A)In general

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)Fiscal year 1997

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)Callable capital stock

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)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.

Reference

Citations & Metadata

Citation

22 U.S.C. § 290o–4

Title 22, Foreign Relations and Intercourse

Last Updated

Sep 22, 2026

Release point: 119-110