22 U.S.C. § 285g — Status, immunities, and privileges

submitted 60 years ago by Pub. L. 89-369 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 96 words · no verdicts yet

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The agreement, especially articles 49 through 56, takes full effect once the U.S. joins the Bank. This happens when the U.S. accepts membership and the Bank is established. The President must also declare that the U.S. keeps the right to tax Bank salaries paid to its citizens.

The agreement — especially its articles 49 through 56 — takes full legal force in the United States, its territories and possessions, and Puerto Rico, once the United States accepts membership in the Bank and the Bank is established. When the President deposits the U.S. instrument accepting Bank membership, the President must also deposit a declaration. That declaration says the United States, and its political subdivisions, keep the right to tax salaries and other pay the Bank gives to U.S. citizens or nationals.

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

The agreement, and particularly articles 49 through 56, shall have full force and effect in the United States, its territories and possessions, and the Commonwealth of Puerto Rico, upon acceptance of membership by the United States in, and the establishment of, the Bank. The President, at the time of deposit of the instrument of acceptance of membership by the United States in the Bank, shall also deposit a declaration that the United States retains for itself and its political subdivisions the right to tax salaries and emoluments paid by the Bank to its citizens or nationals.

Source credit: (Pub. L. 89–369, § 9, Mar. 16, 1966, 80 Stat. 72.)

history & why it existsrecord from the source credit

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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