§ 285aa TITLE 22—FOREIGN RELATIONS AND INTERCOURSE Page 118

any commitment to make such contributions

shall be made subject to obtaining the necessary

appropriations.

(b) In order to pay for the United States contribution provided for in subsection (a) of this

section, there are authorized to be appropriated,

without fiscal year limitation, $584,280,000 for

payment by the Secretary of the Treasury.

(Pub. L. 89–369, §29, as added Pub. L. 100–202,

§101(e) [title I], Dec. 22, 1987, 101 Stat. 1329–131,

1329–134.)

CODIFICATION

Section 29 of Pub. L. 89–369 is based on section 201 of

title II of H.R. 3750, One Hundredth Congress, as introduced Dec. 11, 1987, and enacted into law by Pub. L.

100–202.

§ 285aa. Capital increase

(a) Subscription authorized

(1) The United States Governor of the Bank

may subscribe on behalf of the United States to

35,230 additional shares of the capital stock of

the Bank. (2) Any subscription by the United

States to the capital stock of the Bank shall be

effective only to such extent or 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 provided for in

subsection (a) of this section, there are authorized to be appropriated, without fiscal year limitation, $213,000,000 for payment by the Secretary

of the Treasury.

(Pub. L. 89–369, §30, as added Pub. L. 102–145,

§125(b), as added Pub. L. 102–266, §102, Apr. 1,

1992, 106 Stat. 97.)

SUBCHAPTER XV—INTERNATIONAL MONETARY FUND AND BANK FOR RECONSTRUCTION AND DEVELOPMENT

SUBCHAPTER REFERRED TO IN OTHER SECTIONS

This subchapter is referred to in sections 286q, 290k–5,

290l–2, 290o–2 of this title.

§ 286. Acceptance of membership by United

States in International Monetary Fund

The President is hereby authorized to accept

membership for the United States in the International Monetary Fund (hereinafter referred to

as the ‘‘Fund’’), and in the International Bank

for Reconstruction and Development (hereinafter referred to as the ‘‘Bank’’), provided for by

the Articles of Agreement of the Fund and the

Articles of Agreement of the Bank as set forth

in the Final Act of the United Nations Monetary

and Financial Conference dated July 22, 1944,

and deposited in the archives of the Department

of State.

(July 31, 1945, ch. 339, §2, 59 Stat. 512.)

SHORT TITLE OF 1968 AMENDMENT

Pub. L. 90–349, June 19, 1968, 82 Stat. 188 [enacting sections 286n to 286r of this title and amending sections

412, 415, 417, and 467 of Title 12, Banks and Banking], is

known as the ‘‘Special Drawing Rights Act’’. For complete classification of this Act to the Code, see Short

Title note set out under section 286n of this title and

Tables.

SHORT TITLE

Section 1 of act July 31, 1945, provided: ‘‘This act [enacting this subchapter and amending section 822a of

former Title 31, Money and Finance] may be cited as

the ‘Bretton Woods Agreements Act’.’’

PAR VALUE MODIFICATION

For Congressional direction that the Secretary of the

Treasury maintain the value in terms of gold of the

holdings in United States dollars of the International

Monetary Fund and of the International Bank for Reconstruction and Development following the establishment of a par value of the dollar at $38 for a fine troy

ounce of gold pursuant to the Par Value Modification

Act and for the authorization of the appropriation necessary to provide such maintenance of value, see section 5152 of Title 31, Money and Finance.

CROSS REFERENCES

Advancement of human rights through United States

assistance policies with international financial institutions, see section 262d of this title.

Increase in lending authority of the Export-Import

Bank of Washington, see sections 635 to 635h of Title 12,

Banks and Banking.

United States membership in the United Nations

Food and Agriculture Organization, see sections 279 to

279d of this title.

§ 286a. Appointments

(a) Governors and executive directors; term of

office

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

the Fund who shall also serve as a governor of

the Bank, and an executive director of the Fund

and an executive director of the Bank. The executive directors so appointed shall also serve as

provisional executive directors of the Fund and

the Bank for the purposes of the respective Articles of Agreement. The term of office for the

governor of the Fund and of the Bank shall be

five years. The term of office for the executive

directors shall be two years, but the executive

directors shall remain in office until their successors have been appointed.

(b) Alternates; term of office

The President, by and with the advice and consent of the Senate, shall appoint an alternate

for the governor of the Fund and an alternate

for the governor of the Bank. The President, by

and with the advice and consent of the Senate,

shall appoint an alternate for each of the executive directors. The alternate for each executive

director shall be appointed from among individuals recommended to the President by the executive director. The terms of office for alternates

for the governor and the executive directors

shall be the same as the terms specified in subsection (a) of this section for the governor and

executive directors.

(c) Governor to serve as councillor; alternates

and associates

Should the provisions of Schedule D of the Articles of Agreement of the Fund apply, the Governor of the Fund shall also serve as councillor,

shall designate an alternate for the councillor,

and may designate associates.