§ 285c. — Congressional authorization needed for certain actions.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 22USC285c]
TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
CHAPTER 7--INTERNATIONAL BUREAUS, CONGRESSES, ETC.
SUBCHAPTER XIV--ASIAN DEVELOPMENT BANK
Sec. 285c. Congressional authorization needed for certain
actions
Unless the 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 of the Bank; (b)
vote for or agree to any amendment of the agreement which increases the
obligations of the United States, or which would change the purpose or
functions of the Bank; or (c) make a loan or provide other financing to
the Bank, except that funds for technical assistance note to exceed
$1,000,000 in any one year may be provided to the Bank by a United
States agency created pursuant to an Act of Congress which is authorized
by law to provide funds to international organizations.
(Pub. L. 89-369, Sec. 5, Mar. 16, 1966, 80 Stat. 72.)
Subsequent Replenishments
Pub. L. 105-118, title V, Sec. 560(a), Nov. 26, 1997, 111 Stat.
2425, provided in part that the Secretary of the Treasury may contribute
on behalf of the United States to the sixth replenishment of the
resources of the Asian Development Fund, subject to obtaining the
necessary appropriations, and authorized $400,000,000 to be appropriated
without fiscal year limitation.
Pub. L. 103-87, title V, Sec. 526, Sept. 30, 1993, 107 Stat. 952,
provided in part that the Secretary of the Treasury is authorized to
agree on behalf of the United States to participate in the fifth
replenishment of the Asian Development Fund, subject to obtaining the
necessary appropriations.
