§ 290o TITLE 22—FOREIGN RELATIONS AND INTERCOURSE Page 202

(4) United States-Mexico Border Area

The term ‘‘United States-Mexico Border

Area’’ means the area located in the United

States and Mexico within 100 kilometers of the

border between the United States and Mexico.

(Pub. L. 103–400, §8, Oct. 22, 1994, 108 Stat. 4171.)

SUBCHAPTER XXX—MIDDLE EAST

DEVELOPMENT BANK

§ 290o. Acceptance of membership

The President is hereby authorized to accept

membership for the United States in the Bank

for Economic Cooperation and Development in

the Middle East and North Africa (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 31, 1996.

(Pub. L. 104–208, div. A, title I, §101(c) [title VII,

§702], Sept. 30, 1996, 110 Stat. 3009–121, 3009–179.)

REFERENCES IN TEXT

This subchapter, referred to in text, was in the original ‘‘this title’’, meaning title I, §101(c) [title VII], of

div. A of Pub. L. 104–208, Sept. 30, 1996, 110 Stat.

3009–121, 3009–179, which is classified principally to this

subchapter. For complete classification of title I,

§101(c) [title VII], to the Code, see Short Title note

below and Tables.

SHORT TITLE

Section 101(c) [title VII, §701] of div. A of Pub. L.

104–208 provided that: ‘‘This title [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 ‘Bank for Economic Cooperation

and Development in the Middle East and North Africa

Act’.’’

§ 290o–1. Governor and alternate Governor

(a) Appointment

At the inaugural meeting of the Board of Governors of the Bank, the Governor and the alternate for the Governor of the International Bank

for Reconstruction and Development, appointed

pursuant to section 286a of this title, shall serve

ex-officio as a Governor and the alternate for

the Governor, respectively, of the Bank. The

President, by and with the advice and consent of

the Senate, shall appoint a Governor of the

Bank and an alternate for the Governor.

(b) Compensation

Any person who serves as a governor of the

Bank or as an alternate for the Governor may

not receive any salary or other compensation

from the United States by reason of such service.

(Pub. L. 104–208, div. A, title I, §101(c) [title VII,

§703], Sept. 30, 1996, 110 Stat. 3009–121, 3009–179.)

§ 290o–2. Applicability of certain provisions of

Bretton Woods Agreements Act

Section 286b of this title shall apply to the

Bank in the same manner in which such section

applies to the International Bank for Reconstruction and Development and the International Monetary Fund.

(Pub. L. 104–208, div. A, title I, §101(c) [title VII,

§704], Sept. 30, 1996, 110 Stat. 3009–121, 3009–179.)

REFERENCES IN TEXT

The Bretton Woods Agreements Act, referred to in

section catchline, is act July 31, 1945, ch. 339, 59 Stat.

512, as amended, which is classified principally to subchapter XV (§286 et seq.) of this chapter. For complete

classification of this Act to the Code, see Short Title

note set out under section 286 of this title and Tables.

§ 290o–3. Federal Reserve Banks as depositories

Any Federal Reserve Bank which is requested

to do so by the Bank may act as its depository,

or as its fiscal agent, and the Board of Governors of the Federal Reserve System shall exercise general supervision over the carrying out of

these functions.

(Pub. L. 104–208, div. A, title I, §101(c) [title VII,

§705], Sept. 30, 1996, 110 Stat. 3009–121, 3009–179.)

§ 290o–4. Subscription of stock

(a) Subscription authority

(1) In general

The Secretary of the Treasury may subscribe on behalf of the United States to not

more than 7,011,270 shares of the capital stock

of the Bank.

(2) Effectiveness of subscription commitment

Any commitment to make such subscription

shall be effective only to such extent or in

such amounts as are provided for in advance

by appropriations Acts.

(b) Limitations on authorization of appropriations

For payment by the Secretary of the Treasury

of the subscription of the United States for

shares described in subsection (a) of this section,

there are authorized to be appropriated

$1,050,007,800 without fiscal year limitation.

(c) Limitations on obligation of appropriated

amounts for shares of capital stock

(1) Paid-in capital stock

(A) In general

Not more than $105,000,000 of the amounts

appropriated pursuant to subsection (b) of

this section may be obligated for subscription to shares of paid-in capital stock.

(B) Fiscal year 1997

Not more than $52,500,000 of the amounts

appropriated pursuant to subsection (b) of

this section for fiscal year 1997 may be obligated for subscription to shares of paid-in

capital stock.

(2) Callable capital stock

Not more than $787,505,852 of the amounts

appropriated pursuant to subsection (b) of this

section may be obligated for subscription to

shares of callable capital stock.

(d) Disposition of net income distributions by

Bank

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. 104–208, div. A, title I, §101(c) [title VII,

§706], Sept. 30, 1996, 110 Stat. 3009–121, 3009–179.)