22 U.S.C. § 285x — Additional subscription to shares
submitted 43 years ago by Pub. L. 89-369 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 310 words · no verdicts yet
This law lets the U.S. Governor subscribe to 123,375 more shares of Asian Development Bank stock. Congress authorizes up to $1,322,999,476 to pay for those shares. Congress also declares support for Taiwan's continued full membership in the Bank.
The United States Governor of the Bank is authorized to subscribe on behalf of the United States to one hundred twenty-three thousand three hundred and seventy-five additional shares of the capital stock of the Bank.
Any subscription to the capital stock of the Bank shall be effective only to such extent or in such amounts as are provided in advance in appropriation 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, $1,322,999,476 for payment by the Secretary of the Treasury.
The Congress hereby finds that—
the Republic of China (Taiwan) is a charter member in good standing of the Asian Development Bank;
the Republic of China has grown from a borrower to a lender in the Asian Development Bank; and
the Republic of China provides, through its economic success, a model for other nations in Asia.
It is the sense of the Congress that—
Taiwan, Republic of China, should remain a full member of the Asian Development Bank, and that its status within that body should remain unaltered no matter how the issue of the People’s Republic of China’s application for membership is disposed of;
the President and the Secretary of State should express support of Taiwan, Republic of China, making it clear that the United States will not countenance attempts to expel Taiwan, Republic of China, from the Asian Development Bank; and
the Secretary of the Senate and Clerk of the House shall transmit a copy of this resolution to the President with the request that he transmit such copy to the Board of Governors of the Asian Development Bank.
Source credit: (Pub. L. 89–369, § 27, as added Pub. L. 98–181, title I [title X, § 1002], Nov. 30, 1983, 97 Stat. 1285.)
- 1983Enacted · Pub. L. 89-369 · 97 Stat. 1285
A history note hasn’t been published yet. The record shows enactment by Pub. L. 89-369 on 1983-11-30.
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