U.S Code last checked for updates: Nov 22, 2024
All TitlesTitle 22Chapter 7Subchapter XXVIII
§ 290m.
North American Development Bank
(a)
Acceptance of membership
(b)
Subscription of stock
(1)
Subscription authority
(A)
In general
(B)
Effectiveness of subscription
(2)
Limitations on authorization of appropriations
(3)
Funding; limitation on callable capital subscriptions
(A)
Funding
(B)
Limitation on callable capital subscriptions
(4)
Disposition of net income distributed by the facility
(c)
Compensation of Board members
(d)
Applicability of Bretton Woods Agreements Act
(e)
Restrictions
Unless authorized by law, neither the President nor any person or agency shall, on behalf of the United States—
(1)
subscribe to additional shares of stock of the Bank;
(2)
vote for or agree to any amendment of the Cooperation Agreement which increases the obligations of the United States, or which changes the purpose or functions of the Bank; or
(3)
make a loan or provide other financing to the Bank.
(f)
Federal Reserve banks as depositories
(g)
Jurisdiction of United States courts and enforcement of arbitral awards
(h)
Exemption from securities laws for certain securities issued by Bank; reports required
(1)
Omitted
(2)
Exemption from securities laws for certain securities issued by the Bank; reports required
(3)
Authority of Securities and Exchange Commission to suspend exemption; reports to the Congress
(Pub. L. 103–182, title V, § 541, Dec. 8, 1993, 107 Stat. 2165; Pub. L. 116–113, title VI, § 601, Jan. 29, 2020, 134 Stat. 78; Pub. L. 116–260, div. O, title VI, § 601(a)(1), (2), Dec. 27, 2020, 134 Stat. 2149.)
cite as: 22 USC 290m
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