22 U.S.C. § 282c — Congressional authorization needed for certain actions

Unless Congress passes a law authorizing it, neither the President nor any other person or agency may act on behalf of the United States to do three things: (a) subscribe to — buy — additional shares of the Corporation's stock under article II, section 3, of its Articles of Agreement; (b) accept any amendment under article VII of the Articles of Agreement; or (c) make any loan to the Corporation. Separately, the section gives the United States Governor of the Corporation standing authority — without needing a new law — to agree to one specific amendment: a change to article III of the Articles of Agreement that would let the Corporation invest its funds in capital stock, and that would limit the Corporation's own voting rights unless the Corporation itself decides exercising those rights is necessary to protect its interests. This matches a proposal the Corporation's Board of Directors submitted on February 20, 1961. Finally, unless Congress authorizes it by law, no governor or alternate representing the United States may vote for an increase in the Corporation's capital stock under article II, section 2(c)(ii), of the Articles of Agreement.