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22 U.S.C. § 262p–4r — United States African Development Foundation
Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment of Foundation** There is established a body corporate to be known as the “United States African Development Foundation” (hereafter in this subchapter referred to as the “Foundation”).
**(b) Principal and branch offices** The Foundation shall establish a principal office in the United States and may establish such branch offices in Africa as may be necessary to carry out its functions.
Source: Supplied U.S. Code snapshot — release unconfirmed · 22 U.S.C. § 262p–4r
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Stable record: federal_law:legal_authorities:record_usc_86ac1883a304e0ce6ac998fe
Source file: Laws/federal/codes/united-states-code/title-22/section-262p4r-united-states-african-development-foundation--9707131726.md
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Passage SHA-256: 231ced63c2a46279194e31b629ca225dcef2832c5c8dba8b2d922b50d47e125e
Source location: Title 22, Chapter 7, § 262p–4r; chapter-007-international-bureaus-congresses-etc.md
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**(a) Establishment of Foundation** There is established a body corporate to be known as the “United States African Development Foundation” (hereafter in this subchapter referred to as the “Foundation”).
**(b) Principal and branch offices** The Foundation shall establish a principal office in the United States and may establish such branch offices in Africa as may be necessary to carry out its functions.
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** The President may direct the Secretary of the Treasury to make an agreement with the Federal reserve banks and the Board of Governors of the Federal Reserve System when the President decides that the foreign commerce of the United States is affected adversely because—
(1) the value of coins and currency of a foreign country compared to the present standard value of gold is depreciating;
(2) action is necessary to regulate and maintain the parity of United States coins and currency;
(3) an economic emergency requires an expansion of credit; or
(4) an expansion of credit is necessary so that the United States Government and the governments of other countries can stabilize the value of coins and currencies of a country.
**(b)** Under an agreement under subsection (a) of this section, the Board shall permit the banks (and the Board is authorized to permit the banks notwithstanding another law) to agree that the banks will—
(1) conduct through each entire specified period open market operations in obligations of the United States Government or corporations in which the Government is the majority stockholder; and
(2) buy directly and hold an additional $3,000,000,000 of obligations of the Government for each agreed period, unless the Secretary consents to the sale of the obligations before the end of the period.
**(c)** With the approval of the Secretary, the Board may require Federal reserve banks to take action the Secretary and Board consider necessary to prevent unreasonable credit expansion.
Source: Supplied U.S. Code snapshot — release unconfirmed · 31 U.S.C. § 5301
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