22 U.S.C. § 285aa — Capital increase
submitted 34 years ago by Pub. L. 89-369 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 108 words · no verdicts yet
The U.S. Governor of the Bank may buy 35,230 more shares of the Bank's stock on behalf of the United States. This only happens once Congress first approves the money through appropriations. Congress authorizes $213,000,000, with no yearly deadline, to pay for it.
(a) Subscription authorized. (1) The United States Governor of the Bank may subscribe — that is, agree to buy — 35,230 additional shares of the Bank's capital stock, on behalf of the United States. (2) But this subscription only takes effect for the amounts that Congress has already approved in an appropriations act. Congress must approve the money first.
(b) Limitations on authorization of appropriations. To pay for this stock increase, Congress authorizes $213,000,000 to be appropriated. There is no fiscal-year limit on when this money must be spent. The Secretary of the Treasury will make the payment.
The United States Governor of the Bank may subscribe on behalf of the United States to 35,230 additional shares of the capital stock of the Bank. (2) Any subscription by the United States to the capital stock of the Bank shall be effective only to such extent or in such amounts as are provided in advance in appropriations Acts.
In order to pay for the increase in the United States subscription to the Bank provided for in subsection (a), there are authorized to be appropriated, without fiscal year limitation, $213,000,000 for payment by the Secretary of the Treasury.
Source credit: (Pub. L. 89–369, § 30, as added Pub. L. 102–145, § 125(b), as added Pub. L. 102–266, § 102, Apr. 1, 1992, 106 Stat. 97.)
- 1992Enacted · Pub. L. 89-369 · 106 Stat. 97
A history note hasn’t been published yet. The record shows enactment by Pub. L. 89-369 on 1992-04-01.
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