§ 290k–8 - Subscription of stock

CHAPTER 7— INTERNATIONAL BUREAUS, CONGRESSES, ETC. › SUBCHAPTER XXVI— MULTILATERAL INVESTMENT GUARANTEE AGENCY

(a) The Secretary of the Treasury is authorized to subscribe on behalf of the United States to 20,519 shares of the capital stock of the Agency, except that the subscription shall be effective only to such extent or in such amounts as are provided in advance in appropriations Acts.

(b) In order to pay for United States subscription authorized in subsection (a), there are authorized to be appropriated, without fiscal year limitation, $222,015,580, for payment by the Secretary of the Treasury.

(c) Any payment of dividends made to the United States by the Agency shall be deposited into the Treasury as a miscellaneous receipt.

Notes

Editorial Notes

Codification

Section is based on section 411 of title IV of H.R. 3750, One Hundredth Congress, as introduced Dec. 11, 1987, and enacted into law by Pub. L. 100–202.

Statutory Notes and Related Subsidiaries

First General Capital Increase

Pub. L. 106–113, div. B, § 1000(a)(2) [title V, § 594], Nov. 29, 1999, 113 Stat. 1535, 1501A–122, provided in part that the Secretary of the Treasury may effect the United States participation in the first general capital increase of the Multilateral Investment Guarantee Agency and authorized $29,870,087 to be appropriated without fiscal year limitation for payment by the Secretary for paid-in capital of the Agency and $139,365,533 to be appropriated without fiscal year limitation for payment by the Secretary for callable capital of the Agency.