Page 1189 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 5442

§ 5426. United States policy of private financial

support for Polish and Hungarian credit

unions

(a) In general

In order to facilitate the development of indigenous credit unions in Poland and Hungary, it is

the policy of the United States that—

(1) United States citizens, financial institutions (other than federally insured depository

institutions), and other persons may make

contributions and loans to, make capital deposits in, and provide other forms of financial

and technical assistance to credit unions in

Poland and Hungary; and

(2) federally insured depository institutions

may provide technical assistance to credit

unions in Poland and Hungary, to the extent

that the provision of such assistance is prudent and not inconsistent with safe and sound

banking practice.

(b) Omitted

(c) Definitions

For purposes of subsection (a) of this section—

(1) the term ‘‘credit union’’ means a member-owned, nonprofit, cooperative depository

institution—

(A) which is formed to permit individuals

in the field of membership specified in such

institution’s charter to pool their savings,

lend the savings to one another, and own the

organization where they save, borrow, and

obtain related financial services; and

(B) whose members are united by a common bond and democratically operate the institution; and

(2) the term ‘‘federally insured depository

institution’’ means—

(A) any insured depository institution (as

defined in section 1813(c)(2) of title 12); and

(B) any insured credit union (as defined in

section 1752(7) of title 12).

(Pub. L. 101–179, title II, §206, Nov. 28, 1989, 103

Stat. 1310.)

CODIFICATION

Section is comprised of section 206 of Pub. L. 101–179.

Subsec. (b) of section 206 of Pub. L. 101–179 amended

section 1757 of Title 12, Banks and Banking.

SUBCHAPTER III—EDUCATIONAL,

CULTURAL, AND SCIENTIFIC ACTIVITIES

§ 5441. Educational and cultural exchanges and

sister institutions programs with Poland and

Hungary

(a) Educational and cultural exchanges

(1) Support for expanded U.S. participation

The United States should expand its participation in educational and cultural exchange

activities with Poland and Hungary, using the

full array of existing government-funded and

privately-funded programs, with particular

emphasis on the J. William Fulbright Educational Exchange Program, the International

Visitors Program, the Samantha Smith Memorial Exchange Program, the exchange programs of the National Academy of Sciences,

youth and student exchanges through such

private organizations as The Experiment in

International Living, The American Field

Service Committee, and Youth for Understanding, and research exchanges sponsored by

the International Research and Exchanges

Board (IREX).

(2) Emphasis on skills in business and economics

The United States should place particular

emphasis on expanding its participation in

educational exchange activities that will assist in developing the skills in business and

economics that are necessary for the development of a free market economy in Poland and

Hungary.

(b) Binational Fulbright commissions

The United States should take all appropriate

action to establish binational Fulbright commissions with Poland and Hungary in order to

facilitate and enhance academic and scholarly

exchanges with those countries.

(c) Reciprocal cultural centers

The President should consider the establishment of reciprocal cultural centers in Poland

and the United States and in Hungary and the

United States to facilitate government-funded

and privately-funded cultural exchanges.

(d) Sister institutions programs

The President shall act to encourage the establishment of ‘‘sister institution’’ programs between American and Polish organizations and

between American and Hungarian organizations,

including such organizations as institutions of

higher education, cities and towns, and organizations in such fields as medicine and health

care, business management, environmental protection, and agricultural research and marketing.

(e) Authorization of appropriations

To enable the United States Information

Agency to support the activities described in

this section, there are authorized to be appropriated $12,000,000 for the 3-year period beginning October 1, 1989, in addition to amounts

otherwise available for such purposes.

(Pub. L. 101–179, title IV, §401, Nov. 28, 1989, 103

Stat. 1314.)

§ 5442. Poland-Hungary scholarship partnership

(a) Establishment of scholarship program

The Administrator of the Agency for International Development is authorized to establish

and administer a program of scholarship assistance, in cooperation with State governments,

universities, community colleges, and businesses, to provide scholarships to enable students from Poland and Hungary to study in the

United States.

(b) Emphasis on business and economics

The scholarship program provided for in this

section shall emphasize scholarships to enable

students from Poland and Hungary to study

business and economics in the United States.

Such scholarships may be provided for study in

programs that range from the standard manage-