22 U.S.C. § 290i–6 — Subscription to stock
submitted 45 years ago by Pub. L. 97-35 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 165 words · no verdicts yet
The President can agree to buy 29,820 shares of the Bank's stock, but only as Congress approves the money. Any money the Bank later pays back to the U.S. goes into the Treasury.
The President is authorized to agree to subscribe on behalf of the United States to twenty-nine thousand eight hundred and twenty shares of the capital stock of the Bank: Provided, however, That the subscription shall be effective only to such extent or in such amounts as are provided in advance in appropriations Acts.
There is authorized to be appropriated, without fiscal year limitation, for payment by the Secretary of the Treasury of the initial United States subscription to twenty-nine thousand eight hundred and twenty shares of the capital stock of the Bank, $359,733,570: Provided, however, That not more than $17,986,679 of such sum may be made available for paid in subscriptions to the Bank for each of the fiscal years 1982, 1983, and 1984.
Any payment or distributions of moneys from the Bank to the United States shall be covered into the Treasury as a miscellaneous receipt.
Source credit: (Pub. L. 97–35, title XIII, § 1338, Aug. 13, 1981, 95 Stat. 742.)
- 1981Enacted · Pub. L. 97-35 · 95 Stat. 742
A history note hasn’t been published yet. The record shows enactment by Pub. L. 97-35 on 1981-08-13.
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