22-U.S.C.-284J
§284J – Expropriation of United States Property; Loan Restrictions
Pathway
Title 22 > Chapter 7 > Subchapter XIII > Section 284j
Details
- Reference: Section 284j
- Legend: §284J – Expropriation of United States Property; Loan Restrictions
- USCode Year: 2013
Provision Content
The President shall instruct the United States Executive Directors of the International Bank for Reconstruction and Development and the International Development Association to vote against any loan or other utilization of the funds of the Bank and the Association for the benefit of any country which has—
(1) nationalized or expropriated or seized ownership or control of property owned by any United States citizen or by any corporation, partnership, or association not less than 50 per centum of which is beneficially owned by the United States citizens;
(2) taken steps to repudiate or nullify existing contracts or agreements with any United States citizen or any corporation, partnership, or association not less than 50 per centum of which is beneficially owned by United States citizens; or
(3) imposed or enforced discriminatory taxes or other exactions, or restrictive maintenance or operational conditions, or has taken other actions, which have the effect of nationalizing, expropriating, or otherwise seizing ownership or control of property so owned;
unless the President determines that (A) an arrangement for prompt, adequate, and effective compensation has been made, (B) the parties have submitted the dispute to arbitration under the rules of the Convention for the Settlement of Investment Disputes, or (C) good faith negotiations are in progress aimed at providing prompt, adequate, and effective compensation under the applicable principles of international law.
(Pub. L. 86–565, §12, as added Pub. L. 92–247, §1, Mar. 10, 1972, 86 Stat. 60.)
U.S. Encyclopedia of Law Coverage
22-U.S.C.-283Z-9 in the Legal Encyclopedia: Foreign Relations
In this entry about 22-U.S.C.-283Z-9, 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.
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