Page 107 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 283ff

1So in original. No subsec. (b) has been enacted.

on poorer areas of better off countries, and to

support programs conducted by the Multilateral

Investment Fund, particularly in targeting lowincome countries and populations, working with

nongovernmental organizations and training

and assisting former combatants from civil conflicts in Latin America.

(Pub. L. 86–147, §38, as added Pub. L. 103–306,

title V, §526(f), Aug. 23, 1994, 108 Stat. 1634.)

SUBCHAPTER XII–A—INTER-AMERICAN

INVESTMENT CORPORATION

§ 283aa. Acceptance of membership

The President is hereby authorized to accept

membership for the United States in the InterAmerican Investment Corporation (hereinafter

in this subchapter referred to as the ‘‘Corporation’’) provided for by the agreement establishing the Corporation (hereinafter in this subchapter referred to as the ‘‘agreement’’) deposited in the archives of the Inter-American Development Bank.

(Pub. L. 98–473, title I, §101(1) [title I], Oct. 12,

1984, 98 Stat. 1884, 1885.)

CODIFICATION

Section is based on section 202 of title II of S. 2416,

Ninety-eighth Congress, as introduced Mar. 13, 1984,

and enacted into law by Pub. L. 98–473.

SHORT TITLE

Section 201 of title II of S. 2416, as introduced in the

Senate Mar. 13, 1984, and as enacted into permanent law

by section 101(1) [title I] of Pub. L. 98–473, provided

that: ‘‘This title [enacting this subchapter and amending section 276c–2 of this title and section 24 of Title 12,

Banks and Banking] may be cited as the ‘Inter-American Investment Corporation Act’.’’

§ 283bb. Governor, Director, and alternates

The Governor and Executive Director of the

Inter-American Development Bank, and the alternate for each of them, appointed under section 283a of this title, shall serve as Governor,

Director, and alternates, respectively, of the

Corporation.

(Pub. L. 98–473, title I, §101(1) [title I], Oct. 12,

1984, 98 Stat. 1884, 1885.)

CODIFICATION

Section is based on section 203 of title II of S. 2416,

Ninety-eighth Congress, as introduced Mar. 13, 1984,

and enacted into law by Pub. L. 98–473.

§ 283cc. Applicability of Bretton Woods Agreements Act

The provisions of section 286b of this title

shall apply with respect to the Corporation to

the same extent as with respect to the International Bank for Reconstruction and Development and the International Monetary Fund.

(Pub. L. 98–473, title I, §101(1) [title I], Oct. 12,

1984, 98 Stat. 1884, 1885; Pub. L. 101–240, title V,

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

CODIFICATION

Section is based on section 204 of title II of S. 2416,

Ninety-eighth Congress, as introduced Mar. 13, 1984,

and enacted into law by Pub. L. 98–473.

AMENDMENTS

1989—Pub. L. 101–240 struck out at end ‘‘Reports with

respect to the Corporation under paragraphs (5) and (6)

of subsection (b) of section 286b of this title shall be included in the first and subsequent reports made thereunder after the United States accepts membership in

the Corporation.’’

§ 283dd. Restrictions

(a) 1 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 Corporation;

(2) vote for or agree to any amendment of

the agreement which increases the obligations

of the United States, or which changes the

purpose or functions of the Corporation; or

(3) make a loan or provide other financing to

the Corporation.

(Pub. L. 98–473, title I, §101(1) [title I], Oct. 12,

1984, 98 Stat. 1884, 1885.)

CODIFICATION

Section is based on section 205 of title II of S. 2416,

Ninety-eighth Congress, as introduced Mar. 13, 1984,

and enacted into law by Pub. L. 98–473.

§ 283ee. Federal Reserve banks as depositories

Any Federal Reserve bank which is requested

to do so by the Corporation shall act as its depository or as its fiscal agent, and the Board of

Governors of the Federal Reserve System shall

supervise and direct the carrying out of these

functions by the Federal Reserve banks.

(Pub. L. 98–473, title I, §101(1) [title I], Oct. 12,

1984, 98 Stat. 1884, 1885.)

CODIFICATION

Section is based on section 206 of title II of S. 2416,

Ninety-eighth Congress, as introduced Mar. 13, 1984,

and enacted into law by Pub. L. 98–473.

§ 283ff. Subscription of stock

(a) Secretary of the Treasury as subscribing authority

The Secretary of the Treasury is authorized to

subscribe on behalf of the United States to five

thousand one hundred shares of the capital

stock of the Corporation: Provided, however,

That the subscription shall be effective only to

such extent or in such amounts as are provided

in advance in appropriations Acts.

(b) Authorization of appropriations

There is authorized to be appropriated, without fiscal year limitation, for payment by the

Secretary of the Treasury of the subscription of

the United States for those shares, $51,000,000.

(c) Disposition of dividends

Any payment of dividends made to the United

States by the Corporation shall be deposited

into the Treasury as a miscellaneous receipt.

(Pub. L. 98–473, title I, §101(1) [title I], Oct. 12,

1984, 98 Stat. 1884, 1885.)

CODIFICATION

Section is based on section 207 of title II of S. 2416,

Ninety-eighth Congress, as introduced Mar. 13, 1984,

and enacted into law by Pub. L. 98–473.