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22 U.S.C. § 290k–6 — Restrictions

submitted 39 years ago by Pub. L. 100-202 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 70 words · no verdicts yet

in plain englishAI-generated · not legal advice

Without a new law, the President can't buy more Agency stock, agree to bigger U.S. obligations to it, or lend it money.

Unless Congress passes a law allowing it, neither the President nor any other person or agency may, on behalf of the United States: (1) buy additional shares of the Agency's stock; (2) vote for, or agree to, any change to the Convention that increases what the U.S. owes, or that changes the Agency's purpose or functions; or (3) give the Agency a loan or any other financing.
the actual law source: uscode.house.gov ↗public domain

Unless authorized by law, neither the President nor any person or agency shall, on behalf of the United States—

(1)

subscribe to additional shares of stock of the Agency;

(2)

vote for or agree to any amendment of the Convention which increases the obligations of the United States, or which changes the purpose or functions of the Agency; or

(3)

make a loan or provide other financing to the Agency.

Source credit: (Pub. L. 100–202, § 101(e) [title I], Dec. 22, 1987, 101 Stat. 1329–131, 1329–134.)

history & why it existsrecord from the source credit
  • 1987Enacted · Pub. L. 100-202 · 101 Stat. 1329

A history note hasn’t been published yet. The record shows enactment by Pub. L. 100-202 on 1987-12-22.

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