22 U.S.C. § 285c — Congressional authorization needed for certain actions
submitted 60 years ago by Pub. L. 89-369 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 118 words · no verdicts yet
Unless Congress passes a law authorizing it, no U.S. official may buy more Bank stock, vote for changes that increase U.S. obligations or the Bank's purpose, or lend money to the Bank. The one exception lets a federal agency give up to $1,000,000 a year in technical assistance funding to the Bank.
Unless the Congress by law authorizes such action, neither the President nor any person or agency shall, on behalf of the United States, (a) subscribe to additional shares of stock of the Bank; (b) vote for or agree to any amendment of the agreement which increases the obligations of the United States, or which would change the purpose or functions of the Bank; or (c) make a loan or provide other financing to the Bank, except that funds for technical assistance note to exceed $1,000,000 in any one year may be provided to the Bank by a United States agency created pursuant to an Act of Congress which is authorized by law to provide funds to international organizations.
Source credit: (Pub. L. 89–369, § 5, Mar. 16, 1966, 80 Stat. 72.)
- 1966Enacted · Pub. L. 89-369 · 80 Stat. 72
A history note hasn’t been published yet. The record shows enactment by Pub. L. 89-369 on 1966-03-16.
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