Page 195 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 290l–1

§ 290k–8. Subscription of stock

(a) Authority of Secretary of the Treasury

The Secretary of the Treasury is authorized to

subscribe on behalf of the United States to 20,519

shares of the capital stock of the Agency, except

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

In order to pay for United States subscription

authorized in subsection (a) of this section,

there are authorized to be appropriated, without

fiscal year limitation, $222,015,580, for payment

by the Secretary of the Treasury.

(c) Dividends deposited into Treasury

Any payment of dividends made to the United

States by the Agency shall be deposited into the

Treasury as a miscellaneous receipt.

(Pub. L. 100–202, §101(e) [title I], Dec. 22, 1987, 101

Stat. 1329–131, 1329–134.)

CODIFICATION

Section is based on section 411 of title IV of H.R. 3750,

One Hundredth Congress, as introduced Dec. 11, 1987,

and enacted into law by Pub. L. 100–202.

§ 290k–9. Jurisdiction of United States courts and

enforcement of arbitral awards

For the purposes of any civil action which

may be brought within the United States, its

territories or possessions, or the Commonwealth

of Puerto Rico, by or against the Agency in accordance with the Convention, including an action brought to enforce an arbitral award

against the Agency, the Agency shall be deemed

to be an inhabitant of the Federal judicial district in which its principal office within the

United States or its agent appointed for the purpose of accepting service or notice of service is

located, and any such action to which the Agency shall be a party shall be deemed to arise

under the laws of the United States, and the district courts of the United States, including the

courts enumerated in section 460 of title 28,

shall have original jurisdiction of any such action. When the Agency is a defendant in any action in a State court, it may at any time before

the trial thereof remove the action into the appropriate district court of the United States by

following the procedure for removal provided in

section 1446 of title 28.

(Pub. L. 100–202, §101(e) [title I], Dec. 22, 1987, 101

Stat. 1329–131, 1329–134.)

CODIFICATION

Section is based on section 412 of title IV of H.R. 3750,

One Hundredth Congress, as introduced Dec. 11, 1987,

and enacted into law by Pub. L. 100–202.

§ 290k–10. Effectiveness of Convention

Articles 43 through 48, inclusive, of the Convention shall have full force and effect in the

United States, its territories and possessions,

and the Commonwealth of Puerto Rico, upon the

entry into force of the Convention for the

United States.

(Pub. L. 100–202, §101(e) [title I], Dec. 22, 1987, 101

Stat. 1329–131, 1329–134.)

CODIFICATION

Section is based on section 413 of title IV of H.R. 3750,

One Hundredth Congress, as introduced Dec. 11, 1987,

and enacted into law by Pub. L. 100–202.

§ 290k–11. Arbitral awards; enforcement; full

faith and credit; Federal Arbitration Act inapplicable; exclusiveness of district court jurisdiction

(a) An award of an arbitral tribunal resolving

a dispute arising under Article 57 or Article 58 of

the Convention shall create a right arising

under a treaty of the United States. The pecuniary obligations imposed by such an award

shall be enforced and shall be given the same

full faith and credit as if the award were a final

judgment of a court of general jurisdiction of

one of the several States. The Federal Arbitration Act (9 U.S.C. 1, et seq.) shall not apply to

enforcement of awards rendered pursuant to the

Convention.

(b) The district courts of the United States

(including the courts enumerated in section 460

of title 28) shall have exclusive jurisdiction over

actions and proceedings under subsection (a) of

this section, regardless of the amount in controversy.

(Pub. L. 100–202, §101(e) [title I], Dec. 22, 1987, 101

Stat. 1329–131, 1329–134.)

REFERENCES IN TEXT

The Federal Arbitration Act, referred to in subsec.

(a), is classified generally to Title 9, Arbitration.

CODIFICATION

Section is based on section 414 of title IV of H.R. 3750,

One Hundredth Congress, as introduced Dec. 11, 1987,

and enacted into law by Pub. L. 100–202.

SUBCHAPTER XXVII—EUROPEAN BANK

FOR RECONSTRUCTION AND DEVELOPMENT

§ 290l. Acceptance of membership

The President is hereby authorized to accept

membership for the United States in the European Bank for Reconstruction and Development

(in this subchapter referred to as the ‘‘Bank’’)

provided for by the agreement establishing the

Bank (in this subchapter referred to as the

‘‘Agreement’’), signed on May 29, 1990.

(Pub. L. 101–513, title V, §562(c)(2), Nov. 5, 1990,

104 Stat. 2034.)

REFERENCES IN TEXT

This subchapter, referred to in text, was in the original ‘‘this subsection’’ meaning subsection (c) of section

562 of Pub. L. 101–513, title V, Nov. 5, 1990, 104 Stat. 2034,

which is classified principally to this subchapter. For

complete classification of subsection (c) to the Code,

see Short Title note set out below and Tables.

SHORT TITLE

Section 562(c)(1) of Pub. L. 101–513 provided that:

‘‘This subsection [enacting this subchapter and amending sections 262r and 276c–2 of this title and section 24

of Title 12, Banks and Banking] may be cited as the

‘European Bank for Reconstruction and Development

Act’.’’

§ 290l–1. Governor and alternate Governor

(a) Appointment

The President, by and with the advice and consent of the Senate, shall appoint a Governor of