2015 US Code
Title 22 - Foreign Relations and Intercourse (Sections 1 - 9141)
Chapter 7 - International Bureaus, Congresses, Etc. (Sections 261 - 290q)
Subchapter XXX - Middle East Development Bank (Sections 290o - 290o-7)
Sec. 290o-4 - Subscription of stock
| Publication Title | United States Code, 2012 Edition, Supplement 3, Title 22 - FOREIGN RELATIONS AND INTERCOURSE |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 22 - FOREIGN RELATIONS AND INTERCOURSE CHAPTER 7 - INTERNATIONAL BUREAUS, CONGRESSES, ETC. SUBCHAPTER XXX - MIDDLE EAST DEVELOPMENT BANK Sec. 290o-4 - Subscription of stock |
| Contains | section 290o-4 |
| Date | 2015 |
| Laws In Effect As Of Date | January 3, 2016 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Pub. L. 104-208, div. A, title I, §101(c) [title VII, §706], Sept. 30, 1996, 110 Stat. 3009-121, 3009-179. |
| Statutes at Large Reference | 110 Stat. 3009-121 |
| Public and Private Law | Public Law 104-208 |
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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 commitmentAny 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 appropriationsFor 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 generalNot 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 1997Not 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 stockNot 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 BankAny 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, §101(c) [title VII, §706], Sept. 30, 1996, 110 Stat. 3009–121, 3009–179.)
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