22 U.S.C. § 283dd — Restrictions

submitted 42 years ago by Pub. L. 98-473 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 72 words · no verdicts yet

in plain englishAI-generated · not legal advice

Without a law from Congress, the President cannot commit the U.S. to buy more Corporation stock. The President also cannot agree to changes that add to U.S. obligations or change the Corporation's purpose. Lending money to the Corporation also needs that same approval.

(a) Unless a law authorizes it, neither the President nor anyone acting for the United States may, on the country's behalf: subscribe to additional shares of stock in the Corporation; vote for or agree to any amendment of the agreement that increases the United States' obligations, or that changes the Corporation's purpose or functions; or make a loan or provide any other financing to the Corporation.

the actual law source: uscode.house.gov ↗public domain

(a)

1 Unless authorized by law, neither the President nor any person or agency shall, on behalf of the United States—

(1)

subscribe to additional shares of stock of the Corporation;

(2)

vote for or agree to any amendment of the agreement which increases the obligations of the United States, or which changes the purpose or functions of the Corporation; or

(3)

make a loan or provide other financing to the Corporation.

Source credit: (Pub. L. 98–473, title I, § 101(1) [title I], Oct. 12, 1984, 98 Stat. 1884, 1885.)

history & why it existsrecord from the source credit

1984Enacted · Pub. L. 98-473 · 98 Stat. 1884, 1885

A history note hasn’t been published yet. The record shows enactment by Pub. L. 98-473 on 1984-10-12.

all 0 arguments · sorted by: best

no arguments yet — make the first case