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22 U.S.C. § 282o — Selective capital increase and amendment of the Articles of Agreement

submitted 71 years ago by Pub. L. 112-74 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 78 words · no verdicts yet

in plain englishAI-generated · not legal advice

The U.S. Governor of the Corporation may vote to raise its capital stock by $130,000,000. The Governor may also accept a change that raises basic votes to 5.55 percent of all votes.

(a) Vote authorized: The U.S. Governor of the Corporation may vote for a plan to increase the Corporation's capital stock by $130,000,000. (b) Amendment of the Articles of Agreement: The Governor may also accept a change to Article IV, Section 3(a) of the Articles of Agreement. This change raises "basic votes" — a fixed share of voting power every member country gets — to 5.55 percent of all votes in the Corporation.
the actual law source: uscode.house.gov ↗public domain
(a) Vote authorized

The United States Governor of the Corporation is authorized to vote in favor of a resolution to increase the capital stock of the Corporation by $130,000,000.

(b) Amendment of the Articles of Agreement

The United States Governor of the Corporation is authorized to agree to and accept an amendment to Article IV, Section 3(a) of the Articles of Agreement of the Corporation that achieves an increase in basic votes to 5.55 percent of total votes.

Source credit: (Aug. 11, 1955, ch. 788, § 17, as added Pub. L. 112–74, div. I, title VII, § 7081(b), Dec. 23, 2011, 125 Stat. 1259.)

history & why it existsrecord from the source credit
  • 1955Enacted · Pub. L. 112-74 · 125 Stat. 1259

A history note hasn’t been published yet. The record shows enactment by Pub. L. 112-74 on 1955-08-11.

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