§ 290l-4. — Subscription of 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: 22USC290l-4]
TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
CHAPTER 7--INTERNATIONAL BUREAUS, CONGRESSES, ETC.
SUBCHAPTER XXVII--EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT
Sec. 290l-4. Subscription of stock
(a) Subscription authority
(1) In general
The Secretary of the Treasury may subscribe on behalf of the
United States to 100,000 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 $1,167,010,000 without
fiscal year limitation.
(c) 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. 101-513, title V, Sec. 562(c)(6), Nov. 5, 1990, 104 Stat.
2034.)
Codification
Subsecs. (a) to (c) were in the original (A) to (C), respectively,
and pars. (1) and (2) of subsec. (a) were in the original (i) and (ii),
respectively, and were editorially redesignated for purposes of
codification.
First General Capital Increase
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, to effect
the United States participation in the first general capital increase of
the European Bank for Reconstruction and Development, subscribe to and
make payment for 100,000 additional shares of the capital stock of the
Bank on behalf of the United States, and authorized $285,772,500 for
paid-in capital and $984,327,500 for callable capital of the European
Bank for Reconstruction and Development to be appropriated without
fiscal year limitation, subject to obtaining the necessary
appropriations.
