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22 U.S.C. § 285x - U.S. Code - Unannotated Title 22. Foreign Relations and Intercourse § 285x. Additional subscription to shares

Current as of January 01, 2024 | Updated by FindLaw Staff

(a)United States share

(1) The United States Governor of the Bank is authorized to subscribe on behalf of the United States to one hundred twenty-three thousand three hundred and seventy-five additional shares of the capital stock of the Bank.

(2) Any subscription to the capital stock of the Bank shall be effective only to such extent or in such amounts as are provided in advance in appropriation Acts.

(b)Authorization of appropriations

In order to pay for the increase in the United States subscription to the Bank provided for in subsection (a), there are authorized to be appropriated, without fiscal year limitation, $1,322,999,476 for payment by the Secretary of the Treasury.

(c)Continued membership of Republic of China in Bank

(1) The Congress hereby finds that--

(A) the Republic of China (Taiwan) is a charter member in good standing of the Asian Development Bank;

(B) the Republic of China has grown from a borrower to a lender in the Asian Development Bank; and

(C) the Republic of China provides, through its economic success, a model for other nations in Asia.

(2) It is the sense of the Congress that--

(A) Taiwan, Republic of China, should remain a full member of the Asian Development Bank, and that its status within that body should remain unaltered no matter how the issue of the People's Republic of China's application for membership is disposed of;

(B) the President and the Secretary of State should express support of Taiwan, Republic of China, making it clear that the United States will not countenance attempts to expel Taiwan, Republic of China, from the Asian Development Bank; and

(C) the Secretary of the Senate and Clerk of the House shall transmit a copy of this resolution to the President with the request that he transmit such copy to the Board of Governors of the Asian Development Bank.

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Cite this article: FindLaw.com - 22 U.S.C. § 285x - U.S. Code - Unannotated Title 22. Foreign Relations and Intercourse § 285x. Additional subscription to shares - last updated January 01, 2024 | https://codes.findlaw.com/us/title-22-foreign-relations-and-intercourse/22-usc-sect-285x/

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