22 U.S.C. § 285k — Utilization of United States Special Resources

submitted 54 years ago by Pub. L. 89-369 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 124 words · no verdicts yet

in plain englishAI-generated · not legal advice

Letters of credit for U.S. Special Resources have limits. The U.S. share can never be more than half of all special funds. It also can't exceed any other country's biggest contribution.

(a) Letters of credit for the U.S. Special Resources described in section 285l may only be issued to the Bank if, at that moment, the total U.S. Special Resources given so far (A) make up less than half of all special-funds contributions to the Bank, and (B) are no bigger than the largest total contribution from any single other country. (b) The U.S. Governor of the Bank must respect two principles: (A) using all special-funds money fairly and evenly, and (B) making sure other countries also contribute meaningfully to each special fund that receives U.S. Special Resources.

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

(a)

The letters of credit provided for in section 285l of this title shall be issued to the Bank only to the extent that at the time of issuance the cumulative amount of the United States Special Resources provided to the Bank (A) constitute a minority of all special funds contributions to the Bank, and (B) are no greater than the largest cumulative contribution of any other single country contributing to the special funds of the Bank.

(b)

The United States Governor of the Bank shall give due regard to the principles of (A) utilizing all special funds resources on an equitable basis, and (B) significantly shared participation by other contributors in each special fund to which United States Special Resources are provided.

Source credit: (Pub. L. 89–369, § 14, as added Pub. L. 92–245, § 1, Mar. 10, 1972, 86 Stat. 58.)

history & why it existsrecord from the source credit

1972Enacted · Pub. L. 89-369 · 86 Stat. 58

A history note hasn’t been published yet. The record shows enactment by Pub. L. 89-369 on 1972-03-10.

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