§ 290i-6. — Subscription to stock.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 22USC290i-6]
TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
CHAPTER 7--INTERNATIONAL BUREAUS, CONGRESSES, ETC.
SUBCHAPTER XXIV--AFRICAN DEVELOPMENT BANK
Sec. 290i-6. Subscription to stock
(a) Authorization of United States subscription to stock
The President is authorized to agree to subscribe on behalf of the
United States to twenty-nine thousand eight hundred and twenty shares of
the capital stock of the Bank: Provided, however, 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
There is authorized to be appropriated, without fiscal year
limitation, for payment by the Secretary of the Treasury of the initial
United States subscription to twenty-nine thousand eight hundred and
twenty shares of the capital stock of the Bank, $359,733,570: Provided,
however, That not more than $17,986,679 of such sum may be made
available for paid in subscriptions to the Bank for each of the fiscal
years 1982, 1983, and 1984.
(c) Distributions by Bank
Any payment or distributions of moneys from the Bank to the United
States shall be covered into the Treasury as a miscellaneous receipt.
(Pub. L. 97-35, title XIII, Sec. 1338, Aug. 13, 1981, 95 Stat. 742.)
Delegation of Functions
Functions of President under subsec. (a) delegated to Secretary of
the Treasury, see Ex. Ord. No. 12403, Feb. 8, 1983, 48 F.R. 6087.
