22 U.S.C. § 262p–4r — Use of authority of United States Executive Directors
submitted 25 years ago by Pub. L. 107-56 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 177 words · no verdicts yet
This law lets the Treasury Secretary instruct U.S. representatives at international financial institutions to support loans to countries that help fight terrorism, and to push for audits ensuring no funds reach terrorists.
(a) Action by the President
If the President finds that a foreign country has taken, or has committed to take, actions that help U.S. efforts to respond to, deter, or prevent international terrorism, the Secretary may — consistent with other applicable law — instruct the U.S. representative at each international financial institution to use their voice and vote to support any loan or other use of that institution's funds for that country, or for any public or private group within it.
(b) Use of voice and vote
The Secretary may instruct the U.S. representative at each international financial institution to aggressively use their voice and vote to require auditing of the institution's disbursed funds, to make sure no money goes to people who commit, threaten, or support terrorism.
(c) Definition
Here, "international financial institution" means an institution described in section 262r(c)(2).
If the President determines that a particular foreign country has taken or has committed to take actions that contribute to efforts of the United States to respond to, deter, or prevent acts of international terrorism, the Secretary may, consistent with other applicable provisions of law, instruct the United States Executive Director of each international financial institution to use the voice and vote of the Executive Director to support any loan or other utilization of the funds of the respective institutions for such country, or any public or private entity within such country.
The Secretary may instruct the United States Executive Director of each international financial institution to aggressively use the voice and vote of the Executive Director to require an auditing of disbursements at such institution to ensure that no funds are paid to persons who commit, threaten to commit, or support terrorism.
For purposes of this section, the term “international financial institution” means an institution described in section 262r(c)(2) of this title.
Source credit: (Pub. L. 107–56, title III, § 360, Oct. 26, 2001, 115 Stat. 329; Pub. L. 108–458, title VI, § 6202(l), Dec. 17, 2004, 118 Stat. 3746.)
- 2001Enacted · Pub. L. 107-56 · 115 Stat. 329
- 2004Amended · Pub. L. 108-458 · 118 Stat. 3746
A history note hasn’t been published yet. The record shows enactment by Pub. L. 107-56 on 2001-10-26.
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