22 U.S.C. § 282i — Increase in capital stock of Corporation; subscription to additional shares
submitted 71 years ago by Pub. L. 95-118 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 127 words · no verdicts yet
The U.S. governor at the Corporation can vote to add 540,000 shares to its stock. If that happens, the governor can buy 111,493 more shares for the U.S., but only if Congress approves the money first. Congress can approve up to $111,493,000 to pay for this.
The United States Governor of the Corporation is authorized—
to vote for an increase of five hundred and forty thousand shares in the authorized capital stock of the Corporation; and
if such increase becomes effective, to subscribe on behalf of the United States to one hundred and eleven thousand four hundred and ninety-three additional shares of the capital stock of the Corporation: Provided, however, That any commitment to make payment for such additional subscriptions shall be made subject to obtaining the necessary appropriations.
In order to pay for the increase in the United States subscription to the Corporation provided for in this section, there are authorized to be appropriated, without fiscal year limitation, $111,493,000 for payment by the Secretary of the Treasury.
Source credit: (Aug. 11, 1955, ch. 788, § 11, as added Pub. L. 95–118, title III, § 301, Oct. 3, 1977, 91 Stat. 1068.)
- 1955Enacted · Pub. L. 95-118 · 91 Stat. 1068
A history note hasn’t been published yet. The record shows enactment by Pub. L. 95-118 on 1955-08-11.
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