dreamproit/uscode huggingface dataset:
22 U.S.C. § 281b–2...281j (FOREIGN RELATIONS AND INTERCOURSE)
§§ 281b–2 to 281j. Omitted
heading: Editorial Notes
heading: Codification
text: Sections 281b–2 to 281j of this title contained provisions relating to the Institute of Inter-American Affairs. The Institute was created pursuant to act Aug. 5, 1947, ch. 498, 61 Stat. 780. Section 3 of such act, as amended, provided that the Institute was to have succession until June 30, 1960. See Codification note set out under section 281 of this title.
Section 281b–2, acts Aug. 26, 1954, ch. 937, title V, § 544(a), 68 Stat. 862; Aug. 14, 1957, Pub. L. 85–141, § 11(b)(1), 71 Stat. 365, authorized the Institute of Inter-American Affairs to make contracts for periods not to exceed five years, with the proviso that any contract extending beyond June 30, 1960, be made subject to termination by the Institute upon notice, and provided that the Institute, on and after July 1, 1954, be subject to the applicable provisions of the Budget and Accounting Act, 1921, as amended, in lieu of the provisions of the Government Corporation Control Act, as amended [31 U.S.C. 9101 et seq.].
Section 281c, act Aug. 5, 1947, ch. 498, § 4, 61 Stat. 782, provided for transfer of assets to United States Treasury upon termination of corporate life of Institute of Inter-American Affairs.
Section 281d, act Aug. 5, 1947, ch. 498, § 5, 61 Stat. 782, established a Board of Directors for Institute of Inter-American Affairs, and enumerated powers of Board.
Section 281e, act Aug. 5, 1947, ch. 498, § 6, 61 Stat. 782, provided that Institute of Inter-American Affairs be a nonprofit corporation, have no capital stock, and that no part of its revenue, earnings, or other income or property inure to benefit of its directors, officers, and employees.
Section 281f, act Aug. 5, 1947, ch. 498, § 7, 61 Stat. 782, authorized officers and employees of Institute of Inter-American Affairs to hold offices upon approval of Institute, with governments or governmental agencies of other American Republics.
Section 281g, act Aug. 5, 1947, ch. 498, § 8, 61 Stat. 782, authorized Secretary of State to detail employees of Department of State to Institute of Inter-American Affairs.
Section 281h, act Aug. 5, 1947, ch. 498, § 9, 61 Stat. 783, provided that principal office of Institute of Inter-American Affairs be located in District of Columbia, with branch offices any place in United States or other American Republics.
Section 281i, act Aug. 5, 1947, ch. 498, § 10, 61 Stat. 783, exempted Institute of Inter-American Affairs from taxation by any Federal, State, or local taxing authority.
Section 281j, act Aug. 5, 1947, ch. 498, § 11, 61 Stat. 783, reserved right to alter, amend or repeal provisions of sections 281 to 281b and 281c to 281l of this title, and set forth savings clause for such provisions.
22 U.S.C. § 281l (FOREIGN RELATIONS AND INTERCOURSE)
§ 281l. Omitted
heading: Editorial Notes
heading: Codification
text: Section, act Aug. 5, 1947, ch. 498, § 13, 61 Stat. 783, provided that Institute of Inter-American Affairs be subject to provisions of the Government Corporation Control Act. See Codification note set out under section 281 of this title.
22 U.S.C. § 282 (FOREIGN RELATIONS AND INTERCOURSE)
§ 282. Acceptance of membership by United States in International Finance Corporation
The President is hereby authorized to accept membership for the United States in the International Finance Corporation (hereinafter referred to as the “Corporation”), provided for by the Articles of Agreement of the Corporation deposited in the archives of the International Bank for Reconstruction and Development.
(Aug. 11, 1955, ch. 788, § 2, 69 Stat. 669.)
heading: Statutory Notes and Related Subsidiaries
heading: Short Title
text: Act Aug. 11, 1955, ch. 788, § 1, 69 Stat. 669, provided that: “This Act [enacting this subchapter] may be cited as the ‘International Finance Corporation Act’.”
22 U.S.C. § 282b (FOREIGN RELATIONS AND INTERCOURSE)
§ 282b. Applicability of National Advisory Council on International Monetary and Financial Problems
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.
(Aug. 11, 1955, ch. 788, § 4, 69 Stat. 669; Pub. L. 101–240, title V, § 541(e)(1), Dec. 19, 1989, 103 Stat. 2518.)
heading: Editorial Notes
heading: Amendments
text: 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 report made thereunder after the establishment of the Corporation and in each succeeding report.”
heading: Executive Documents
heading: Delegation of Functions
text: Functions of National Advisory Council on International Monetary and Financial Problems under this section 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.
22 U.S.C. § 282c (FOREIGN RELATIONS AND INTERCOURSE)
§ 282c. Congressional authorization needed for certain actions
Unless Congress by law authorizes such action, neither the President nor any person or agency shall on behalf of the United States (a) subscribe to additional shares of stock under article II, section 3, of the Articles of Agreement of the Corporation; (b) accept any amendment under article VII of the Articles of Agreement of the Corporation; (c) make any loan to the Corporation. The United States Governor of the Corporation is authorized to agree to an amendment to article III of the articles of agreement of the Corporation to authorize the Corporation to make investments of its funds in capital stock and to limit the exercise of voting rights by the Corporation unless exercise of such rights is deemed necessary by the Corporation to protect its interests, as proposed in the resolution submitted by the Board of Directors on February 20, 1961. Unless Congress by law authorizes such action, no governor or alternate representing the United States shall vote for an increase of capital stock of the Corporation under article II, section 2(c)(ii), of the Articles of Agreement of the Corporation.
(Aug. 11, 1955, ch. 788, § 5, 69 Stat. 669; Pub. L. 87–185, Aug. 30, 1961, 75 Stat. 413.)
heading: Editorial Notes
heading: Amendments
text: 1961—Pub. L. 87–185 authorized acceptance of an amendment to the articles of agreement of the Corporation to permit investment in capital stock and to limit the exercise of voting rights.
22 U.S.C. § 282e (FOREIGN RELATIONS AND INTERCOURSE)
§ 282e. Payment of subscriptions to Corporation by United States; dividends covered into Treasury
(a) Authority of Secretary of the Treasury
The Secretary of the Treasury is authorized to pay the subscription of the United States to the Corporation and for this purpose is authorized to use as a public-debt transaction not to exceed $35,168,000 of the proceeds of any securities hereafter issued under chapter 31 of title 31, and the purposes for which securities may be issued under that chapter are extended to include such purpose. Payment under this subsection of the subscription of the United States to the Corporation and any repayment thereof shall be treated as public-debt transactions of the United States.
(b) Dividends treated as miscellaneous receipts
Any payment of dividends made to the United States by the Corporation shall be covered into the Treasury as a miscellaneous receipt.
(Aug. 11, 1955, ch. 788, § 7, 69 Stat. 670.)
heading: Editorial Notes
heading: Codification
text: In subsec. (a), “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.
22 U.S.C. § 282f (FOREIGN RELATIONS AND INTERCOURSE)
§ 282f. Jurisdiction and venue of actions
For the purpose of any action which may be brought within the United States or its Territories or possessions by or against the Corporation in accordance with the Articles of Agreement of the Corporation, the Corporation 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 Corporation 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 Corporation 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.
(Aug. 11, 1955, ch. 788, § 8, 69 Stat. 670.)
heading: Court Rules
heading: Federal Rules of Civil Procedure
text: One form of action, see rule 2, Title 28, Appendix, Judiciary and Judicial Procedure.
22 U.S.C. § 282i (FOREIGN RELATIONS AND INTERCOURSE)
§ 282i. Increase in capital stock of Corporation; subscription to additional shares
(a) The United States Governor of the Corporation is authorized—
(1) to vote for an increase of five hundred and forty thousand shares in the authorized capital stock of the Corporation; and
(2) if such increase becomes effective, to subscribe on behalf of the United States to one hundred and eleven thousand four hundred and ninety-three additional shares of the capital stock of the Corporation: Provided, however, That any commitment to make payment for such additional subscriptions shall be made subject to obtaining the necessary appropriations.
(b) In order to pay for the increase in the United States subscription to the Corporation provided for in this section, there are authorized to be appropriated, without fiscal year limitation, $111,493,000 for payment by the Secretary of the Treasury.
(Aug. 11, 1955, ch. 788, § 11, as added Pub. L. 95–118, title III, § 301, Oct. 3, 1977, 91 Stat. 1068.)
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date
text: Pub. L. 95–118, title X, § 1001, Oct. 3, 1977, 91 Stat. 1072, provided that: “This Act [enacting this section and sections 262c, 262d, 262e to 262g, 284n, 285s, 285t, 286e–1f, and 290g–10 of this title, repealing sections 283y, 284m, 290g–9 of this title, and enacting provisions set out as a note under section 262c of this title] shall take effect on the date of its enactment [Oct. 3, 1977], except that no funds authorized to be appropriated by any amendment contained in title II, III, IV, V, or VI [enacting this section and sections 286e–1f, 284n, 285s, 285t, or 290g–10 of this title] may be available for use or obligation prior to October 1, 1977”.
22 U.S.C. § 282j (FOREIGN RELATIONS AND INTERCOURSE)
§ 282j. Increase in capital stock of Corporation; subscription to additional shares
(a) The United States Governor of the Corporation is authorized—
(1) to vote for an increase of 650,000 shares in the authorized capital stock of the Corporation; and
(2) to subscribe on behalf of the United States to 175,162 additional shares of the capital stock of the Corporation, except that any subscription to additional shares shall be effective only to such extent or in such amounts as are provided in advance in appropriations Acts.
(b) In order to pay for the increase in the United States subscription to the Corporation provided for in this section, there are authorized to be appropriated, without fiscal year limitation, § 175,162,000 for payment by the Secretary of the Treasury.
(Aug. 11, 1955, ch. 788, § 12, as added Pub. L. 99–190, § 101(i) [title I, (a)], Dec. 19, 1985, 99 Stat. 1291, 1294.)
heading: Editorial Notes
heading: Codification
text: Section 12 of act Aug. 11, 1955, is based on section 3 of H.R. 1948, Ninety-ninth Congress, as introduced Apr. 3, 1985, and enacted into law by Pub. L. 99–190.
22 U.S.C. § 282p (FOREIGN RELATIONS AND INTERCOURSE)
§ 282p. Capital increases and amendment to the Articles of Agreement
(a) Votes authorized
The United States Governor of the Corporation is authorized to vote in favor of—
(1) a resolution to increase the authorized capital stock of the Corporation by 16,999,998 shares, to implement the conversion of a portion of the retained earnings of the Corporation into paid-in capital, which will result in the United States being issued an additional 3,771,899 shares of capital stock, without any cash contribution;
(2) a resolution to increase the authorized capital stock of the Corporation on a general basis by 4,579,995 shares; and
(3) a resolution to increase the authorized capital stock of the Corporation on a selective basis by 919,998 shares.
(b) Amendment of the Articles of Agreement
The United States Governor of the Corporation is authorized to agree to and accept an amendment to article II, section 2(c)(ii) of the Articles of Agreement of the Corporation that would increase the vote by which the Board of Governors of the Corporation may increase the capital stock of the Corporation from a four-fifths majority to an eighty-five percent majority.
(Aug. 11, 1955, ch. 788, § 18, as added Pub. L. 116–136, div. B, title XI, § 21012(b)(2), Mar. 27, 2020, 134 Stat. 594.)
heading: Statutory Notes and Related Subsidiaries
heading: Purposes; Effective Date
text: Pub. L. 116–136, div. B, title XI, § 21012(a), Mar. 27, 2020, 134 Stat. 593, provided that: “For purposes of strengthening the ability of foreign countries to prevent, prepare for, and respond to coronavirus and to the adverse economic impacts of coronavirus, in a manner that would protect the United States from the spread of coronavirus and mitigate an international economic crisis resulting from coronavirus that may pose a significant risk to the economy of the United States, each paragraph of subsection (b) [enacting this section and sections 284cc, 290g–25, and 290i–12 of this title and amending section 286e–2 of this title] shall take effect upon enactment of this Act [Mar. 27, 2020].”
[For definition of “coronavirus” as used in section 21012(a) of Pub. L. 116–136, set out above, see section 23005 of Pub. L. 116–136, set out as a note under section 162b of Title 2, The Congress.]
22 U.S.C. § 283 (FOREIGN RELATIONS AND INTERCOURSE)
§ 283. Acceptance of membership by United States in Inter-American Development Bank
The President is hereby authorized to accept membership for the United States in the Inter-American Development Bank (hereinafter referred to as the “Bank”), provided for by the agreement establishing the bank (hereinafter referred to as the “agreement”) deposited in the archives of the Organization of American States.
(Pub. L. 86–147, § 2, Aug. 7, 1959, 73 Stat. 299.)
heading: Statutory Notes and Related Subsidiaries
heading: Short Title
text: Pub. L. 86–147, § 1, Aug. 7, 1959, 73 Stat. 299, provided that: “This Act [enacting this subchapter and amending section 24 of Title 12, Banks and Banking] may be cited as the ‘Inter-American Development Bank Act’.”
heading: Proposals for Joint Act by Participants in Inter-American Development Bank for Increased Exploration and Exploitation of Energy and Mineral Resources of Western Hemisphere
text: Pub. L. 96–259, title I, § 102, June 3, 1980, 94 Stat. 430, which required Presidential evaluation and report on a proposal for joint action by countries of Western Hemisphere and other countries which participate in Inter-American Development Bank to increase exploration for and exploitation of energy and mineral resources of Western Hemisphere through multilateral incentives, administered by Inter-American Development Bank, was repealed by Pub. L. 101–240, title V, § 541(d)(6), Dec. 19, 1989, 103 Stat. 2518.
heading: Par Value Modification
text: For Congressional direction that the Secretary of the Treasury maintain the value in terms of gold of the Inter-American Development Bank’s holdings of United States dollars 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 appropriations necessary to provide such maintenance of value, see section 5152 of Title 31, Money and Finance.
22 U.S.C. § 283a (FOREIGN RELATIONS AND INTERCOURSE)
§ 283a. Appointment of officers; term of office; salary
(a) Governor and alternate governor
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. The term of office for the governor and the alternate governor shall be five years, but each shall remain in office until a successor has been appointed.
(b) Executive director and alternate executive director
The President, by and with the advice and consent of the Senate, shall appoint an executive director of the Bank and an alternate Executive Director. Except as provided for in article XV, section 3, of the agreement, the term of office for the executive director shall be three years, but he shall remain in office until a successor has been appointed.
(c) Compensation
No person shall be entitled to receive any salary or other compensation from the United States for services as a governor, alternate governor, or executive director.
(Pub. L. 86–147, § 3, Aug. 7, 1959, 73 Stat. 299; Pub. L. 91–599, ch. 2, § 21(b), Dec. 30, 1970, 84 Stat. 1658.)
heading: Editorial Notes
heading: Amendments
text: 1970—Subsec. (b). Pub. L. 91–599 authorized appointment of an alternate Executive Director.
22 U.S.C. § 283b (FOREIGN RELATIONS AND INTERCOURSE)
§ 283b. National Advisory Council on International Monetary and Financial Problems
The provisions of section 286b of this title shall apply with respect to the Bank to the same extent as with respect to the International Bank for Reconstruction and Development and the International Monetary Fund.
(Pub. L. 86–147, § 4, Aug. 7, 1959, 73 Stat. 299; Pub. L. 101–240, title V, § 541(e)(2), Dec. 19, 1989, 103 Stat. 2518.)
heading: Editorial Notes
heading: Amendments
text: 1989—Pub. L. 101–240 struck out at end “Reports with respect to the Bank under paragraphs (5) and (6) of subsection (b) of section 286b of this title shall be included in the first report made thereunder after the establishment of the Bank and in each succeeding report.”
heading: Executive Documents
heading: Delegation of Functions
text: Functions of National Advisory Council on International Monetary and Financial Problems under this section 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.
22 U.S.C. § 283c (FOREIGN RELATIONS AND INTERCOURSE)
§ 283c. Congressional authorization needed for certain actions
Unless Congress by law authorizes such action, neither the President nor any person or agency shall, on behalf of the United States, (a) subscribe to additional shares of stock under article II, section 3, or article IIA, section 2, of the agreement; (b) request or consent to any change in the quota of the United States under article IV, section 3, of the agreement; (c) accept any amendment under article XII of the agreement; or (d) make a loan or provide other financing to the Bank, except that loans or other financing may be provided to the Bank by a United States agency created pursuant to an Act of Congress which is authorized by law to make loans or provide other financing to international organizations. Unless Congress by law authorizes such actions, no governor or alternate appointed to represent the United States shall vote for any increase of capital stock of the Bank under article II, section 2, or article IIA, section 1, of the agreement or any increase in the resources of the Fund for Special Operations under article IV, section 3(g) thereof.
(Pub. L. 86–147, § 5, Aug. 7, 1959, 73 Stat. 299; Pub. L. 94–302, title I, § 103(a)(2), May 31, 1976, 90 Stat. 593.)
heading: Editorial Notes
heading: Amendments
text: 1976—Pub. L. 94–302 inserted “, or article IIA, section 2,” after “article II, section 3” and “or article IIA, section 1,” after “article II, section 2,”.
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date of 1976 Amendment
text: Pub. L. 94–302, title I, § 103(b), May 31, 1976, 90 Stat. 593, provided that: “The amendments made by paragraphs (2) and (3) of this section [amending this section and section 283h of this title] shall become effective upon approval by the Board of Governors of the Bank of the resolutions referred to in section 23 of the Inter-American Development Bank Act (22 U.S.C. 283 et seq.).”
22 U.S.C. § 283e (FOREIGN RELATIONS AND INTERCOURSE)
§ 283e. Payment of subscription to Bank and Fund by United States
(a) Authorization of appropriations
There is hereby authorized to be appropriated, without fiscal year limitation, for the purchase of thirty-five thousand shares of capital stock in the Bank, $350 million. In addition, there is authorized to be appropriated, without fiscal year limitation, for payment of the subscription of the United States to the Fund for Special Operations, $100 million.
(b) Issuance of special notes
For the purpose of keeping to a minimum the cost to the United States of participation in the Bank, the Secretary of the Treasury, after paying the requisite part of the subscription and quota of the United States in the Bank required to be made under article II, section 4, and article IV, section 3, respectively, of the agreement, is authorized and directed to issue special notes of the United States from time to time, at par, and to deliver such notes to the Bank in exchange for dollars to the extent permitted by the agreement. The special notes provided for in this subsection shall be issued under the authority and subject to the provisions of chapter 31 of title 31, and the purposes for which securities may be issued under that chapter are extended to include the purposes for which special notes are authorized and directed to be issued under this subsection, but such notes shall bear no interest, 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.)
heading: Editorial Notes
heading: Codification
text: 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.