22 U.S.C. § 283j — Increased United States participation in Bank activities

submitted 62 years ago by Pub. L. 86-147 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 140 words · no verdicts yet

in plain englishAI-generated · not legal advice

The U.S. Governor of the Bank may vote for increases in the Bank's capital stock and the Fund for Special Operations, as recommended in a 1963 report. The Governor may also commit the U.S. to its share of a $1 billion increase in callable capital. The Governor may also vote to allow one more Executive Director.

The U.S. Governor of the Bank is authorized to do three things. (1) The Governor may vote for increases in the Bank's authorized capital stock under article II, section 2, of the agreement, and for an increase in the resources of the Fund for Special Operations under article IV, section 3, of the agreement — both as recommended by the Bank's Executive Directors in a report dated March 18, 1963, to the Board of Governors. (2) The Governor may agree, on behalf of the United States, to subscribe to the United States' proportionate share of a $1,000,000,000 increase in the Bank's authorized callable capital stock. (3) The Governor may vote for an amendment to article VIII, section 3, of the agreement that would let the Board of Governors, if certain conditions are met, increase the number of Executive Directors by one.

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

The United States Governor of the Bank is hereby authorized (1) to vote (A) for the increases in the authorized capital stock of the Bank under article II, Section 2, of the agreement, and (B) for an increase in the resources of the Fund for Special Operations under article IV, section 3, of the agreement, all as recommended by the Executive Directors in a report dated March 18, 1963, to the Board of Governors of the Bank; (2) to agree on behalf of the United States to subscribe to its proportionate share of the $1,000,000,000 increase in the authorized callable capital stock of the Bank; and (3) to vote for an amendment to article VIII, section 3, of the agreement to provide that the Board of Governors may, upon certain conditions, increase by one the number of Executive Directors.

Source credit: (Pub. L. 86–147, § 13, as added Pub. L. 88–259, § 1, Jan. 22, 1964, 78 Stat. 3.)

history & why it existsrecord from the source credit

1964Enacted · Pub. L. 86-147 · 78 Stat. 3

A history note hasn’t been published yet. The record shows enactment by Pub. L. 86-147 on 1964-01-22.

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