22 U.S.C. § 282b — Applicability of National Advisory Coun-

Page 141 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 282f (Aug. 11, 1955, ch. 788, § 3, 69 Stat. 669.) § 282b. Applicability of National Advisory Coun- cil on International Monetary and Financial Problems The provisions of section 286b of this title, shall apply with respect to the Corporation to the same extent as with respect to the Inter- national Bank for Reconstruction and Develop- ment. (Aug. 11, 1955, ch. 788, § 4, 69 Stat. 669; Pub. L. 101–240, title V, § 541(e)(1), Dec. 19, 1989, 103 Stat. 2518.) Editorial Notes AMENDMENTS 1989—Pub. L. 101–240 struck out at end ‘‘Reports with respect to the Corporation under paragraphs 5 and 6 of subsection (b) of section 286b of this title, shall be in- cluded in the first report made thereunder after the es- tablishment of the Corporation and in each succeeding report.’’ Executive Documents DELEGATION OF FUNCTIONS Functions of National Advisory Council on Inter- national Monetary and Financial Problems under this section delegated to National Advisory Council on International Monetary and Financial Policies, see sec- tion 2(a) of Ex. Ord. No. 11269, Feb. 14, 1966, 31 F.R. 2813, set out as a note under section 286b of this title. § 282c. Congressional authorization needed for certain actions Unless Congress by law authorizes such action, neither the President nor any person or agency shall on behalf of the United States (a) subscribe to additional shares of stock under article II, section 3, of the Articles of Agreement of the Corporation; (b) accept any amendment under article VII of the Articles of Agreement of the Corporation; (c) make any loan to the Corpora- tion. The United States Governor of the Cor- poration is authorized to agree to an amend- ment to article III of the articles of agreement of the Corporation to authorize the Corporation to make investments of its funds in capital stock and to limit the exercise of voting rights by the Corporation unless exercise of such rights is deemed necessary by the Corporation to pro- tect its interests, as proposed in the resolution submitted by the Board of Directors on Feb- ruary 20, 1961. Unless Congress by law authorizes such action, no governor or alternate rep- resenting the United States shall vote for an in- crease of capital stock of the Corporation under article II, section 2(c)(ii), of the Articles of Agreement of the Corporation. (Aug. 11, 1955, ch. 788, § 5, 69 Stat. 669; Pub. L. 87–185, Aug. 30, 1961, 75 Stat. 413.) Editorial Notes AMENDMENTS 1961—Pub. L. 87–185 authorized acceptance of an amendment to the articles of agreement of the Cor- poration to permit investment in capital stock and to limit the exercise of voting rights. § 282d. Federal Reserve banks as depositories Any Federal Reserve bank which is requested to do so by the Corporation shall act as its de- pository or as its fiscal agent, and the Board of Governors of the Federal Reserve System shall supervise and direct the carrying out of these functions by the Federal Reserve banks. (Aug. 11, 1955, ch. 788, § 6, 69 Stat. 669.) § 282e. Payment of subscriptions to Corporation by United States; dividends covered into Treasury (a) Authority of Secretary of the Treasury The Secretary of the Treasury is authorized to pay the subscription of the United States to the Corporation and for this purpose is authorized to use as a public-debt transaction not to exceed $35,168,000 of the proceeds of any securities here- after issued under chapter 31 of title 31, and the purposes for which securities may be issued under that chapter are extended to include such purpose. Payment under this subsection of the subscription of the United States to the Cor- poration and any repayment thereof shall be treated as public-debt transactions of the United States. (b) Dividends treated as miscellaneous receipts Any payment of dividends made to the United States by the Corporation shall be covered into the Treasury as a miscellaneous receipt. (Aug. 11, 1955, ch. 788, § 7, 69 Stat. 670.) Editorial Notes CODIFICATION In subsec. (a), ‘‘chapter 31 of title 31’’ and ‘‘that chap- ter’’ substituted for ‘‘the Second Liberty Bond Act, as amended’’ and ‘‘that Act’’, respectively, on authority of Pub. L. 97–258, § 4(b), Sept. 13, 1982, 96 Stat. 1067, the first section of which enacted Title 31, Money and Fi- nance. § 282f. Jurisdiction and venue of actions For the purpose of any action which may be brought within the United States or its Terri- tories or possessions by or against the Corpora- tion in accordance with the Articles of Agree- ment of the Corporation, the Corporation shall be deemed to be an inhabitant of the Federal ju- dicial district in which its principal office in the United States is located, and any such action at law or in equity to which the Corporation shall be a party shall be deemed to arise under the laws of the United States, and the district courts of the United States shall have original jurisdiction of any such action. When the Cor- poration is a defendant in any such action, it may, at any time before the trial thereof, re- move such action from a State court into the district court of the United States for the proper district by following the procedure for removal of causes otherwise provided by law. (Aug. 11, 1955, ch. 788, § 8, 69 Stat. 670.) Court Rules FEDERAL RULES OF CIVIL PROCEDURE One form of action, see rule 2, Title 28, Appendix, Ju- diciary and Judicial Procedure.