22 U.S.C. § 282m — Authority to vote for capital increases

Page 143 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 283 (A) vote for an increase of 1,000,000 shares in the authorized capital stock of the Cor- poration; and (B) subscribe on behalf of the United States to 250,000 additional shares of the cap- ital stock of the Corporation. (2) Prior appropriation required The subscription authority provided in para- graph (1) shall be effective only to such extent or in such amounts as are provided in advance in appropriations Acts. (b) Limitations on authorization of appropria- tions In order to pay for the subscription authorized in subsection (a), there are authorized to be ap- propriated, without fiscal year limitation, $50,000,000 for payment by the Secretary of the Treasury. (Aug. 11, 1955, ch. 788, § 14, as added Pub. L. 102–145, § 125(a), Oct. 28, 1991, as added Pub. L. 102–266, § 102, Apr. 1, 1992, 106 Stat. 97.) § 282m. Authority to vote for capital increases necessary to support economic restructuring in independent states of former Soviet Union The United States Governor of the Corpora- tion may vote in favor of any increase in the capital stock of the Corporation that may be needed to accommodate the requirements of the independent states of the former Soviet Union (as defined in section 5801 of this title). (Aug. 11, 1955, ch. 788, § 15, as added Pub. L. 102–511, title X, § 1005, Oct. 24, 1992, 106 Stat. 3361.) § 282n. Authority to agree to amendments to Arti- cles of Agreement The United States Governor of the Corpora- tion is authorized to agree to amendments to the Articles of Agreement of the Corporation that would— (1) amend Article II, Section 2(c)(ii), to in- crease the vote by which the Board of Gov- ernors of the Corporation may increase the capital stock of the Corporation from a three- fourths majority to a four-fifths majority; and (2) amend Article VII(a) to increase the vote by which the Board of Governors of the Cor- poration may amend the Articles of Agree- ment of the Corporation from a four-fifths ma- jority to an eighty-five percent majority. (Aug. 11, 1955, ch. 788, § 16, as added Pub. L. 102–511, title X, § 1006, Oct. 24, 1992, 106 Stat. 3361.) § 282o. Selective capital increase and amendment of the Articles of Agreement (a) Vote authorized The United States Governor of the Corpora- tion is authorized to vote in favor of a resolu- tion to increase the capital stock of the Cor- poration by $130,000,000. (b) Amendment of the Articles of Agreement The United States Governor of the Corpora- tion is authorized to agree to and accept an amendment to Article IV, Section 3(a) of the Ar- ticles of Agreement of the Corporation that achieves an increase in basic votes to 5.55 per- cent of total votes. (Aug. 11, 1955, ch. 788, § 17, as added Pub. L. 112–74, div. I, title VII, § 7081(b), Dec. 23, 2011, 125 Stat. 1259.) § 282p. Capital increases and amendment to the Articles of Agreement (a) Votes authorized The United States Governor of the Corpora- tion is authorized to vote in favor of— (1) a resolution to increase the authorized capital stock of the Corporation by 16,999,998 shares, to implement the conversion of a por- tion of the retained earnings of the Corpora- tion into paid-in capital, which will result in the United States being issued an additional 3,771,899 shares of capital stock, without any cash contribution; (2) a resolution to increase the authorized capital stock of the Corporation on a general basis by 4,579,995 shares; and (3) a resolution to increase the authorized capital stock of the Corporation on a selective basis by 919,998 shares. (b) Amendment of the Articles of Agreement The United States Governor of the Corpora- tion is authorized to agree to and accept an amendment to article II, section 2(c)(ii) of the Articles of Agreement of the Corporation that would increase the vote by which the Board of Governors of the Corporation may increase the capital stock of the Corporation from a four- fifths majority to an eighty-five percent major- ity. (Aug. 11, 1955, ch. 788, § 18, as added Pub. L. 116–136, div. B, title XI, § 21012(b)(2), Mar. 27, 2020, 134 Stat. 594.) Statutory Notes and Related Subsidiaries PURPOSES; EFFECTIVE DATE Pub. L. 116–136, div. B, title XI, § 21012(a), Mar. 27, 2020, 134 Stat. 593, provided that: ‘‘For purposes of strengthening the ability of foreign countries to pre- vent, prepare for, and respond to coronavirus and to the adverse economic impacts of coronavirus, in a manner that would protect the United States from the spread of coronavirus and mitigate an international economic crisis resulting from coronavirus that may pose a sig- nificant risk to the economy of the United States, each paragraph of subsection (b) [enacting this section and sections 284cc, 290g–25, and 290i–12 of this title and amending section 286e–2 of this title] shall take effect upon enactment of this Act [Mar. 27, 2020].’’ [For definition of ‘‘coronavirus’’ as used in section 21012(a) of Pub. L. 116–136, set out above, see section 23005 of Pub. L. 116–136, set out as a note under section 162b of Title 2, The Congress.] SUBCHAPTER XII—INTER-AMERICAN DEVELOPMENT BANK § 283. Acceptance of membership by United States in Inter-American Development Bank The President is hereby authorized to accept membership for the United States in the Inter- American Development Bank (hereinafter re- ferred to as the ‘‘Bank’’), provided for by the agreement establishing the bank (hereinafter re-