Subscription to stock

U.S.C. Title 22 - FOREIGN RELATIONS AND INTERCOURSE 22 U.S.C. United States Code, 2023 Edition Title 22 - FOREIGN RELATIONS AND INTERCOURSE CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC. SUBCHAPTER XXIV - AFRICAN DEVELOPMENT BANK Sec. 290i-6 - Subscription to stock From the U.S. Government Publishing Office, www.gpo.gov

§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, §1338, Aug. 13, 1981, 95 Stat. 742.)

Executive Documents

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.