22 U.S.C. § 286e–1j — Additional increase in capital stock of Bank; subscription to additional shares; authorization of appropriations
submitted 81 years ago by Pub. L. 99-190 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 121 words · no verdicts yet
This law lets the U.S. Governor of the World Bank vote for another 70,000-share increase in Bank stock. The U.S. can subscribe to 12,453 of those shares, but only once Congress funds it. Congress authorizes $1,502,267,655 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
to subscribe on behalf of the United States to twelve thousand four hundred and fifty-three additional shares of the capital stock of the Bank, except that any subscription to such 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, $1,502,267,655 for payment by the Secretary of the Treasury.
Source credit: (July 31, 1945, ch. 339, § 51, as added Pub. L. 99–190, § 101(i) [title I, (a)], Dec. 19, 1985, 99 Stat. 1291, 1294.)
- 1945Enacted · Pub. L. 99-190 · 99 Stat. 1291, 1294
A history note hasn’t been published yet. The record shows enactment by Pub. L. 99-190 on 1945-07-31.
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