22 U.S.C. § 286 — Acceptance of membership by United States in International Monetary Fund

submitted 81 years ago by ch. 339 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 86 words · no verdicts yet

in plain englishAI-generated · not legal advice

This law lets the President accept U.S. membership in the International Monetary Fund. It also lets the President accept membership in the World Bank. Both memberships follow the rules set in a 1944 international agreement.

This section gives the President the power to make the United States a member of two international organizations. The first is the International Monetary Fund, called the "Fund" in this law. The second is the International Bank for Reconstruction and Development — commonly known as the World Bank — called the "Bank" here. Membership follows the rules written in the Articles of Agreement for each organization. Those Articles are part of the Final Act of the United Nations Monetary and Financial Conference, signed July 22, 1944. A copy of that Final Act is kept in the U.S. Department of State's archives.

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

The President is hereby authorized to accept membership for the United States in the International Monetary Fund (hereinafter referred to as the “Fund”), and in the International Bank for Reconstruction and Development (hereinafter referred to as the “Bank”), provided for by the Articles of Agreement of the Fund and the Articles of Agreement of the Bank as set forth in the Final Act of the United Nations Monetary and Financial Conference dated July 22, 1944, and deposited in the archives of the Department of State.

Source credit: (July 31, 1945, ch. 339, § 2, 59 Stat. 512.)

history & why it existsrecord from the source credit

1945Enacted · Act of July 31, 1945, ch. 339 · 59 Stat. 512

A history note hasn’t been published yet. The record shows enactment by ch. 339 on 1945-07-31.

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