Page 99 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 283i

terest, shall be nonnegotiable, and shall be payable on demand of the Bank. The face amount of

special notes issued to the Bank under the authority of this subsection and outstanding at

any one time shall not exceed, in the aggregate,

the amount of the subscription and quota of the

United States actually paid to the Bank under

article II, section 4, and article IV, section 3, respectively, of the agreement.

(c) Income covered into Treasury

Any payment made to the United States by

the Bank as a distribution of net income shall

be covered into the Treasury as a miscellaneous

receipt.

(Pub. L. 86–147, §7, Aug. 7, 1959, 73 Stat. 300.)

CODIFICATION

In subsec. (b), ‘‘chapter 31 of title 31’’ and ‘‘that chapter’’ substituted for ‘‘the Second Liberty Bond Act, as

amended’’ and ‘‘that Act’’, respectively, on authority of

Pub. L. 97–258, §4(b), Sept. 13, 1982, 96 Stat. 1067, the

first section of which enacted Title 31, Money and Finance.

§ 283f. Jurisdiction and venue of actions

For the purpose of any action which may be

brought within the United States, its Territories

or possessions, or the Commonwealth of Puerto

Rico by or against the Bank in accordance with

the agreement, the Bank shall be deemed to be

an inhabitant of the Federal judicial district in

which its principal office in the United States is

located, and any such action at law or in equity

to which the Bank shall be a party shall be

deemed to arise under the laws of the United

States, and the district courts of the United

States shall have original jurisdiction of any

such action. When the Bank is a defendant in

any such action, it may, at any time before the

trial thereof, remove such action from a State

court into the district court of the United

States for the proper district by following the

procedure for removal of causes otherwise provided by law.

(Pub. L. 86–147, §8, Aug. 7, 1959, 73 Stat. 300.)

FEDERAL RULES OF CIVIL PROCEDURE

One form of action, see rule 2, Title 28, Appendix, Judiciary and Judicial Procedure.

CROSS REFERENCES

Removal of cases from State to district courts, see

section 1441 et seq. of Title 28, Judiciary and Judicial

Procedure.

§ 283g. Status, privileges, and immunities of the

United States

The provisions of article X, section 4(c), and

article XI, sections 2 to 9, both inclusive, of the

agreement shall have full force and effect in the

United States, its Territories and possessions,

and the Commonwealth of Puerto Rico, upon acceptance of membership by the United States in,

and the establishment of, the Bank.

(Pub. L. 86–147, §9, Aug. 7, 1959, 73 Stat. 301.)

§ 283h. Securities issued by Bank; reports to and

of Securities and Exchange Commission

(a) Exempt securities; reports of Bank to Commission

Any securities issued by the Bank (including

any guarantee by the Bank, whether or not limited in scope) in connection with raising of funds

for including in the Bank’s capital resources as

defined in article II, section 5, and article IIA,

section 4, of the agreement, and any securities

guaranteed by the Bank as to both principal and

interest to which the commitment in article II,

section 4(a)(ii), or article IIA, section 3(c), of the

agreement is expressly applicable, shall be

deemed to be exempted securities within the

meaning of subsection (a)(2) of section 77c of

title 15 and subsection (a)(12) of section 78c of

title 15. The Bank shall file with the Securities

and Exchange Commission such annual and

other reports with regard to such securities as

the Commission shall determine to be appropriate in view of the special character of the

Bank and its operations and necessary in the

Public interest or for the protection of investors.

(b) Suspension of exemption provisions; annual

reports of Commission to Congress

The Securities and Exchange Commission, acting in consultation with the National Advisory

Council on International Monetary and Financial Problems, is authorized to suspend the provisions of subsection (a) of this section at any

time as to any or all securities issued or guaranteed by the Bank during the period of such suspension. The Commission shall include in its annual reports to Congress such information as it

shall deem advisable with regard to the operations and effect of this section and in connection therewith shall include any views submitted for such purpose by any association of dealers registered with the Commission.

(Pub. L. 86–147, §11, Aug. 7, 1959, 73 Stat. 301;

Pub. L. 94–302, title I, §103(a)(3), May 31, 1976, 90

Stat. 593.)

AMENDMENTS

1976—Subsec. (a). Pub. L. 94–302 struck out ‘‘ordinary’’ after ‘‘in the Bank’s’’ and inserted ‘‘and article

IIA, section 4’’ after ‘‘article II, section 5’’ and ‘‘or article IIA, section 3(c)’’ after ‘‘article II, section 4(a)(ii)’’.

EFFECTIVE DATE OF 1976 AMENDMENT

For effective date of amendment by Pub. L. 94–302,

see section 103(b) of Pub. L. 94–302, set out as a note

under section 283c of this title.

DELEGATION OF FUNCTIONS

Functions of National Advisory Council on International Monetary and Financial Problems delegated

to National Advisory Council on International Monetary and Financial Policies, see section 2(a) of Ex. Ord.

No. 11269, Feb. 14, 1966, 31 F.R. 2813, set out as a note

under section 286b of this title.

§ 283i. Repealed. Pub. L. 101–240, title V,

§ 541(d)(3), Dec. 19, 1989, 103 Stat. 2518

Section, Pub. L. 86–147, §12, Aug. 7, 1959, 73 Stat. 301,

related to reports on effectiveness of section 283h of

this title and section 24 of Title 12, Banks and Banking,

on development of economic resources in member countries.