22 U.S.C. § 285 — Acceptance of membership by United

Page 162 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 285 SUBCHAPTER XIV—ASIAN DEVELOPMENT BANK § 285. Acceptance of membership by United States in Asian Development Bank The President is hereby authorized to accept membership for the United States in the Asian Development Bank (hereinafter referred to as the ‘‘Bank’’) provided for by the agreement es- tablishing the Bank (hereinafter referred to as the ‘‘agreement’’) deposited in the archives of the United Nations. (Pub. L. 89–369, § 2, Mar. 16, 1966, 80 Stat. 71.) Statutory Notes and Related Subsidiaries SHORT TITLE Pub. L. 89–369, § 1, Mar. 16, 1966, 80 Stat. 71, provided: ‘‘That this Act [enacting this subchapter and amending section 24 of Title 12, Banks and Banking] may be cited as the ‘Asian Development Bank Act’.’’ PAR VALUE MODIFICATION For Congressional direction that the Secretary of the Treasury maintain the value in terms of gold of the Asian Development Bank’s holdings of United States dollars following the establishment of a par value of the dollar at $38 for a fine troy ounce of gold pursuant to the Par Value Modification Act and for the author- ization of the appropriations necessary to provide such maintenance of value, see section 5152 of Title 31, Money and Finance. § 285a. Appointment of Governor, Alternate Gov- ernor and Director; compensation (a) The President shall appoint— (1) a Governor of the Bank and an alternate for the Governor— (A) by and with the advice and consent of the Senate; or (B) from among individuals serving as offi- cials required by law to be appointed by and with the advice and consent of the Senate; and (2) a Director of the Bank, by and with the advice and consent of the Senate. (b) No person shall be entitled to receive any salary or other compensation from the United States for services as a Governor or Alternate Governor. The Director may, in the discretion of the President, receive such compensation, allow- ances, and other benefits as, together with those received by him from the Bank, will equal those authorized for a chief of mission under the For- eign Service Act of 1980 [22 U.S.C. 3901 et seq.]. (Pub. L. 89–369, § 3, Mar. 16, 1966, 80 Stat. 71; Pub. L. 96–465, title II, § 2206(a)(1), Oct. 17, 1980, 94 Stat. 2160; Pub. L. 112–166, § 2(aa), Aug. 10, 2012, 126 Stat. 1289.) Editorial Notes REFERENCES IN TEXT The Foreign Service Act of 1980, referred to in subsec. (b), is Pub. L. 96–465, Oct. 17, 1980, 94 Stat. 2071, which is classified principally to chapter 52 (§ 3901 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 3901 of this title and Tables. AMENDMENTS 2012—Subsec. (a). Pub. L. 112–166 amended subsec. (a) generally. Prior to amendment, subsec. (a) read as fol- lows: ‘‘The President, by and with the advice and con- sent of the Senate, shall appoint a Governor of the Bank, an alternate for the Governor, and a Director of the Bank.’’ 1980—Subsec. (b). Pub. L. 96–465 substituted ‘‘a chief of mission under the Foreign Service Act of 1980’’ for ‘‘a Chief of Mission, class 2, within the meaning of the Foreign Service Act of 1946, as amended’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2012 AMENDMENT Amendment by Pub. L. 112–166 effective 60 days after Aug. 10, 2012, and applicable to appointments made on and after that effective date, including any nomination pending in the Senate on that date, see section 6(a) of Pub. L. 112–166, set out as a note under section 113 of Title 6, Domestic Security. EFFECTIVE DATE OF 1980 AMENDMENT Amendment by Pub. L. 96–465 effective Feb. 15, 1981, except as otherwise provided, see section 2403 of Pub. L. 96–465, set out as an Effective Date note under section 3901 of this title. § 285b. Coordination of policies and operations The policies and operations of the representa- tives of the United States on the Bank shall be coordinated with other United States policies in such manner as the President shall direct. (Pub. L. 89–369, § 4, Mar. 16, 1966, 80 Stat. 71; Pub. L. 101–240, title V, § 541(d)(2), (f)(3), Dec. 19, 1989, 103 Stat. 2518, 2519.) Editorial Notes AMENDMENTS 1989—Pub. L. 101–240 struck out subsec. (a) designa- tion and struck out subsec. (b) which read as follows: ‘‘An annual report with respect to United States par- ticipation in the Bank shall be submitted to the Con- gress by such agency or officer as the President shall designate.’’ § 285c. Congressional authorization needed for certain actions Unless the Congress by law authorizes such ac- tion, neither the President nor any person or agency shall, on behalf of the United States, (a) subscribe to additional shares of stock of the Bank; (b) vote for or agree to any amendment of the agreement which increases the obligations of the United States, or which would change the purpose or functions of the Bank; or (c) make a loan or provide other financing to the Bank, ex- cept that funds for technical assistance note to exceed $1,000,000 in any one year may be pro- vided to the Bank by a United States agency created pursuant to an Act of Congress which is authorized by law to provide funds to inter- national organizations. (Pub. L. 89–369, § 5, Mar. 16, 1966, 80 Stat. 72.) Statutory Notes and Related Subsidiaries SUBSEQUENT REPLENISHMENTS Pub. L. 105–118, title V, § 560(a), Nov. 26, 1997, 111 Stat. 2425, provided in part that the Secretary of the Treas- ury may contribute on behalf of the United States to the sixth replenishment of the resources of the Asian Development Fund, subject to obtaining the necessary appropriations, and authorized $400,000,000 to be appro- priated without fiscal year limitation.