22 U.S.C. § 285q — Subscription to additional shares; authorization of appropriations

submitted 52 years ago by Pub. L. 89-369 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 97 words · no verdicts yet

in plain englishAI-generated · not legal advice

The U.S. Governor of the Bank may buy 30,000 more shares of the Bank's stock. This follows Resolution 46 from 1971. Congress may appropriate $361,904,726 to pay for it.

(a) The U.S. Governor of the Bank may subscribe, on behalf of the United States, to thirty thousand additional shares of the Bank's capital stock. This must follow the terms of Resolution Numbered 46, which the Bank's Board of Governors adopted on November 30, 1971. (b) To pay for this bigger U.S. stock subscription, the law authorizes Congress to appropriate $361,904,726, with no time limit on spending it, paid by the Secretary of the Treasury.

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

(a)

The United States Governor of the Bank is authorized to subscribe on behalf of the United States to thirty thousand additional shares of the capital stock of the Bank in accordance with and subject to the terms and conditions of Resolution Numbered 46 adopted by the Bank’s Board of Governors on November 30, 1971.

(b)

In order to pay for the increase in the United States subscription to the Bank provided for in this section, there is hereby authorized to be appropriated without fiscal year limitation $361,904,726 for payment by the Secretary of the Treasury.

Source credit: (Pub. L. 89–369, § 20, as added Pub. L. 93–537, Dec. 22, 1974, 88 Stat. 1735.)

history & why it existsrecord from the source credit

1974Enacted · Pub. L. 89-369 · 88 Stat. 1735

A history note hasn’t been published yet. The record shows enactment by Pub. L. 89-369 on 1974-12-22.

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