22 U.S.C. § 3102 — Definitions
submitted 50 years ago by Pub. L. 94-472 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 438 words · no verdicts yet
This section defines geographic and investment terms used in the chapter. It distinguishes United States and foreign persons, direct and portfolio investment, and parent and affiliate businesses.
The chapter uses these definitions. (1) “United States,” geographically, means the States, the District of Columbia, Puerto Rico, the Canal Zone, and all United States territories and possessions. (2) “Foreign,” geographically, means outside the United States or belonging to or characteristic of another country. (3) “Person” means an individual, branch, partnership, associated group, association, estate, trust, corporation, or other organization, whether or not formed under a State’s laws, and any government, including a foreign, Federal, State, or local government and its agencies, corporations, financial institutions, or other entities or instrumentalities, including a government-sponsored agency. (4) “United States person” means a person residing in the United States or subject to United States jurisdiction. (5) “Foreign person” means a person residing outside the United States or subject to another country’s jurisdiction. (6) “Business enterprise” means an organization, association, branch, or venture formed for profit or other economic advantage, and any ownership of real estate. (7) “Parent” means a person of one country that directly or indirectly owns or controls at least 10 percent of the voting stock, or an equivalent interest, in an incorporated or unincorporated business enterprise located outside that country. (8) “Affiliate” means a business enterprise in one country directly or indirectly owned or controlled by a person of another country through at least 10 percent of voting stock, or an equivalent interest, including a branch. (9) “International investment” means: (A) foreign persons’ direct or indirect ownership or control, including by contract, of an interest in United States property or in stock, other securities, or short- or long-term debt of a United States person; and (B) United States persons’ corresponding ownership or control of property outside the United States or stock, other securities, or short- or long-term debt of a foreign person. (10) “Direct investment” means direct or indirect ownership or control by one person of at least 10 percent of an incorporated enterprise’s voting securities or an equivalent interest in an unincorporated enterprise. (11) “Portfolio investment” means international investment that is not direct investment.
As used in this chapter, the term—
“United States”, when used in a geographic sense, means the several States, the District of Columbia, the Commonwealth of Puerto Rico, the Canal Zone, and all territories and possessions of the United States;
“foreign”, when used in a geographic sense, means that which is situated outside the United States or which belongs to or is characteristic of a country other than the United States;
“person” means any individual, branch, partnership, associated group, association, estate, trust, corporation, or other organization (whether or not organized under the laws of any State), and any government (including a foreign government, the United States Government, a State or local government, and any agency, corporation, financial institution, or other entity or instrumentality thereof, including a government-sponsored agency);
“United States person” means any person resident in the United States or subject to the jurisdiction of the United States;
“foreign person” means any person resident outside the United States or subject to the jurisdiction of a country other than the United States;
“business enterprise” means any organization, association, branch, or venture which exists for profitmaking purposes or to otherwise secure economic advantage, and any ownership of any real estate;
“parent” means a person of one country who, directly or indirectly, owns or controls 10 per centum or more of the voting stock of an incorporated business enterprise, or an equivalent ownership interest in an unincorporated business enterprise, which is located outside that country;
“affiliate” means a business enterprise located in one country which is directly or indirectly owned or controlled by a person of another country to the extent of 10 per centum or more of its voting stock for an incorporated business or an equivalent interest for an unincorporated business, including a branch;
“international investment” means (A) the ownership or control, directly or indirectly, by contractual commitment or otherwise, by foreign persons of any interest in property in the United States, or of stock, other securities, or short- and long-term debt obligations of a United States person, and (B) the ownership or control, directly or indirectly, by contractual commitment or otherwise, by United States persons of any interest in property outside the United States, or of stock, other securities, or short-and long-term debt obligations of a foreign person;
“direct investment” means the ownership or control, directly or indirectly, by one person of 10 per centum or more of the voting securities of an incorporated business enterprise or an equivalent interest in an unincorporated business enterprise; and
“portfolio investment” means any international investment which is not direct investment.
Source credit: (Pub. L. 94–472, § 3, Oct. 11, 1976, 90 Stat. 2060.)
- 1976Enacted · Pub. L. 94-472 · 90 Stat. 2060
A history note hasn’t been published yet. The record shows enactment by Pub. L. 94-472 on 1976-10-11.
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