22 U.S.C. § 286e–3 — Transfers to stabilization fund of purchase of currencies or gold from International Monetary Fund; administration; utilization of fund resources for repayments

submitted 81 years ago by Pub. L. 87-490 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 67 words · no verdicts yet

in plain englishAI-generated · not legal advice

This law lets the U.S. move currency or gold it buys from the IMF into a separate stabilization fund. The Treasury Secretary can then use that fund's money to make related repayments.

Any currencies or gold the United States buys from the International Monetary Fund may be transferred into, and managed by, the fund set up under section 5302 of title 31 — a currency stabilization fund. That money is then used according to the rules of that section. The Secretary of the Treasury may use resources from that fund to make repayments connected to these currency or gold purchase transactions.

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

Any purchases of currencies or gold by the United States from the International Monetary Fund may be transferred to and administered by the fund established by section 5302 of title 31, for use in accordance with the provisions of that section. The Secretary of the Treasury is authorized to utilize the resources of that fund for the purpose of any repayments in connection with such transactions.

Source credit: (July 31, 1945, ch. 339, § 18, as added Pub. L. 87–490, § 1, June 19, 1962, 76 Stat. 105.)

history & why it existsrecord from the source credit

1945Enacted · Pub. L. 87-490 · 76 Stat. 105

A history note hasn’t been published yet. The record shows enactment by Pub. L. 87-490 on 1945-07-31.

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