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22 U.S.C. § 282h — Loans to or from International Bank for Reconstruction and Development; amendment to Articles of Agreement

submitted 71 years ago by Pub. L. 89-126 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 50 words · no verdicts yet

in plain englishAI-generated · not legal advice

The U.S. governor at the Corporation can agree to change its founding rules. The change would let the Corporation lend to or borrow from the World Bank, something currently banned, while still capping how much it can borrow.

The United States Governor of the Corporation is authorized to agree to amendments of the Corporation's Articles of Agreement. These amendments would do two things: remove the current prohibition against the Corporation lending money to, or borrowing money from, the International Bank for Reconstruction and Development, and place limitations on how much the Corporation can borrow that way.
the actual law source: uscode.house.gov ↗public domain

The United States Governor of the Corporation is authorized to agree to the amendments of the articles of agreement of the Corporation to remove the prohibition therein contained against the Corporation lending to or borrowing from the International Bank for Reconstruction and Development, and to place limitations on such borrowing.

Source credit: (Aug. 11, 1955, ch. 788, § 10, as added Pub. L. 89–126, § 2, Aug. 14, 1965, 79 Stat. 519.)

history & why it existsrecord from the source credit
  • 1955Enacted · Pub. L. 89-126 · 79 Stat. 519

A history note hasn’t been published yet. The record shows enactment by Pub. L. 89-126 on 1955-08-11.

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