22-U.S.C.-282C

§282C – Congressional Authorization Needed For Certain Actions

Pathway

Title 22 > Chapter 7 > Subchapter XI > Section 282c

Details

• Reference: Section 282c
• Legend: §282C – Congressional Authorization Needed For Certain Actions
• USCode Year: 2013

Provision Content

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.)

Amendments

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.

U.S. Encyclopedia of Law Coverage

22-U.S.C.-280H in the Legal Encyclopedia: Foreign Relations

In this entry about 22-U.S.C.-280H, find legal reference material, bibliographies and premiere content related to foreign relations in the American Encyclopedia of Law, presenting a comprehensive view of the United States foreign relations-specific issues, written by authorities in the field.

22-U.S.C.-5323 in the Legal Encyclopedia: International Finance

In this entry about 22-U.S.C.-5323, find legal reference material, bibliographies and premiere content related to international finance in the American Encyclopedia of Law, presenting a comprehensive view of the United States international finance-specific issues, written by authorities in the field.

Topic Map

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