§ 290o-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: 22USC290o-4]
TITLE 22--FOREIGN RELATIONS AND INTERCOURSE
CHAPTER 7--INTERNATIONAL BUREAUS, CONGRESSES, ETC.
SUBCHAPTER XXX--MIDDLE EAST DEVELOPMENT BANK
Sec. 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, Sec. 101(c) [title VII, Sec. 706],
Sept. 30, 1996, 110 Stat. 3009-121, 3009-179.)
