22 USC 290l-4 – Subscription of stock
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(a) Subscription authority
(1) In general
The Secretary of the Treasury may subscribe on behalf of the United States to 100,000 shares of the capital stock of the Bank.
(2) Effectiveness of subscription commitment
Any commitment to make such subscription shall be effective only to such extent or in such amounts as are provided for in advance by appropriations Acts.
(b) Limitations on authorization of appropriations
For payment by the Secretary of the Treasury of the subscription of the United States for shares described in subsection (a), there are authorized to be appropriated $1,167,010,000 without fiscal year limitation.
(c) Disposition of net income distributions by Bank
Terms Used In 22 USC 290l-4
- 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
Any payment made to the United States by the Bank as a distribution of net income shall be covered into the Treasury as a miscellaneous receipt.