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22 U.S.C. § 290l–9 — Capital increase

submitted 15 years ago by Pub. L. 101-513 to r/title-22-FOREIGN-RELATIONS-AND-INTERCOURSE · 131 words · no verdicts yet

in plain englishAI-generated · not legal advice

The U.S. can buy up to 90,044 more callable shares of the Bank's stock, under a 2010 Bank resolution. Congress must approve up to about $1.25 billion to pay for them.

(a) Subscription authorized: The U.S. Governor of the Bank may agree, on behalf of the United States, to buy up to 90,044 additional callable shares of the Bank's capital stock. This follows Resolution No. 128, which the Bank's Board of Governors adopted on May 14, 2010. This only takes effect to the extent Congress approves the money in advance through appropriations laws. (b) Limitations on authorization of appropriations: To pay for this increase, Congress authorizes up to $1,252,331,952, with no fiscal-year deadline, for the Secretary of the Treasury to pay.
the actual law source: uscode.house.gov ↗public domain
(a) Subscription authorized
(1)

The United States Governor of the Bank may subscribe on behalf of the United States up to 90,044 additional callable shares of the capital stock of the Bank in accordance with Resolution No. 128 as adopted by the Board of Governors of the Bank on May 14, 2010.

(2)

Any subscription by the United States to additional capital stock of the Bank shall be effective only to such extent and in such amounts as are provided in advance in appropriations Acts.

(b) Limitations on authorization of appropriations

In order to pay for the increase in the United States subscription to the Bank under subsection (a), there are authorized to be appropriated, without fiscal year limitation, up to $1,252,331,952 for payment by the Secretary of the Treasury.

Source credit: (Pub. L. 101–513, title V, § 562(c)(12), as added Pub. L. 112–74, div. I, title VII, § 7081(e), Dec. 23, 2011, 125 Stat. 1260.)

history & why it existsrecord from the source credit
  • 2011Enacted · Pub. L. 101-513 · 125 Stat. 1260

A history note hasn’t been published yet. The record shows enactment by Pub. L. 101-513 on 2011-12-23.

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