22 USC 9656 – Notifications to be provided by the Corporation
(a) In general
Not later than 15 days prior to the Corporation making a financial commitment associated with the provision of support under subchapter II of this title in an amount in excess of $10,000,000, the Chief Executive Officer of the Corporation shall submit to the appropriate congressional committees a report in writing that contains the information required by subsection (b).
(b) Information required
Terms Used In 22 USC 9656
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- 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.
- officer: includes any person authorized by law to perform the duties of the office. See 1 USC 1
- writing: includes printing and typewriting and reproductions of visual symbols by photographing, multigraphing, mimeographing, manifolding, or otherwise. See 1 USC 1
The information required by this subsection includes—
(1) the amount of each such financial commitment;
(2) an identification of the recipient or beneficiary; and
(3) a description of the project, activity, or asset and the development goal or purpose to be achieved by providing support by the Corporation.
(c) Bilateral agreements
The Chief Executive Officer of the Corporation shall notify the appropriate congressional committees not later than 30 days after entering into a new bilateral agreement described in section 9631(a) of this title.