22 U.S.C. § 286e–1k — Capital stock increase
submitted 81 years ago by Pub. L. 100-461 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 120 words · no verdicts yet
This law lets the U.S. Governor of the World Bank vote for a 620,000-share capital increase. The U.S. can subscribe to 116,262 of those shares, once Congress funds it. Congress authorizes over $14 billion to pay for them.
The United States Governor of the Bank is authorized—
to vote for an increase of 620,000 shares in the authorized capital stock of the Bank; and
to subscribe on behalf of the United States to 116,262 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, $14,025,266,370, for payment by the Secretary of the Treasury.
Source credit: (July 31, 1945, ch. 339, § 53, as added Pub. L. 100–461, title V, § 555, Oct. 1, 1988, 102 Stat. 2268–36.)
- 1945Enacted · Pub. L. 100-461 · 102 Stat. 2268
A history note hasn’t been published yet. The record shows enactment by Pub. L. 100-461 on 1945-07-31.
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