22 U.S.C. § 286e–1f — Additional increase in capital stock of Bank; subscription to additional shares; authorization of appropriations
submitted 81 years ago by Pub. L. 95-118 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 125 words · no verdicts yet
This law lets the U.S. Governor of the World Bank vote for 70,000 more shares of Bank stock. If effective, the U.S. can subscribe to 13,005 of those shares, but only once Congress appropriates the money. Congress authorizes $1,568,856,318 to pay for them.
The United States Governor of the Bank is authorized—
to vote for an increase of seventy thousand shares in the authorized capital stock of the Bank; and
if such increase becomes effective, to subscribe on behalf of the United States to thirteen thousand and five additional shares of the capital stock of the Bank: Provided, however, That any subscription to additional shares shall be effective only to such extent or in such amounts as are provided in advance in appropriations Acts.
In order to pay for the increase in the United States subscription to the Bank provided for in this section, there are authorized to be appropriated, without fiscal year limitation, $1,568,856,318 for payment by the Secretary of the Treasury.
Source credit: (July 31, 1945, ch. 339, § 27, as added Pub. L. 95–118, title II, § 201, Oct. 3, 1977, 91 Stat. 1067; amended Pub. L. 97–35, title XIII, § 1312, Aug. 13, 1981, 95 Stat. 740.)
- 1945Enacted · Pub. L. 95-118 · 91 Stat. 1067
- 1981Amended · Pub. L. 97-35 · 95 Stat. 740
A history note hasn’t been published yet. The record shows enactment by Pub. L. 95-118 on 1945-07-31.
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