22 USC 283ff – Subscription of stock
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(a) Secretary of the Treasury as subscribing authority
The Secretary of the Treasury is authorized to subscribe on behalf of the United States to five thousand one hundred shares of the capital stock of the Corporation: Provided, however, That the subscription shall be effective only to such extent or in such amounts as are provided in advance in appropriations Acts.
(b) Authorization of appropriations
Terms Used In 22 USC 283ff
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- subscription: includes a mark when the person making the same intended it as such. See 1 USC 1
There is authorized to be appropriated, without fiscal year limitation, for payment by the Secretary of the Treasury of the subscription of the United States for those shares, $51,000,000.
(c) Disposition of dividends
Any payment of dividends made to the United States by the Corporation shall be deposited into the Treasury as a miscellaneous receipt.