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22 U.S.C. § 290g–5 — Federal Reserve banks as depository for the Fund; supervision

submitted 50 years ago by Pub. L. 94-302 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 46 words · no verdicts yet

in plain englishAI-generated · not legal advice

Any Federal Reserve bank the President asks must act as a depository for the African Development Fund. The Federal Reserve Board supervises how those banks carry out that job.

Any Federal Reserve bank that the President asks to do so must act as a depository for the Fund. The Board of Governors of the Federal Reserve System must supervise and direct how the Federal Reserve banks carry out this function.
the actual law source: uscode.house.gov ↗public domain

Any Federal Reserve bank which is requested to do so by the President shall act as a depository for the Fund, and the Board of Governors of the Federal Reserve System shall supervise and direct the carrying out of these functions by the Federal Reserve banks.

Source credit: (Pub. L. 94–302, title II, § 207, May 31, 1976, 90 Stat. 594.)

history & why it existsrecord from the source credit
  • 1976Enacted · Pub. L. 94-302 · 90 Stat. 594

A history note hasn’t been published yet. The record shows enactment by Pub. L. 94-302 on 1976-05-31.

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