22 USC 2431h – Conservation Fund
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(a) Establishment
Each beneficiary country that enters into a Conservation Agreement under section 2431g of this title shall be required to establish a Conservation Fund to receive payments of interest and principal on new obligations undertaken by the beneficiary country under this subchapter.
(b) Requirements relating to operation of Fund
Terms Used In 22 USC 2431h
- Agreement: means a Conservation Agreement provided for in section 2431g of this title. See 22 USC 2431a
- 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
- beneficiary country: means an eligible country with respect to which the authority of section 2431d(a)(1) of this title, section 2431e(a)(1) of this title, or paragraph (1) or (2) of section 2431f(a) of this title is exercised. See 22 USC 2431a
- Fund: means a Conservation Fund provided for in section 2431h of this title. See 22 USC 2431a
The following terms and conditions shall apply to the Fund in the same manner as such terms as 1 conditions apply to an Enterprise for the Americas Fund under section 2430f of this title:
(1) The provision relating to deposits under subsection (b) of such section.
(2) The provision relating to investments under subsection (c) of such section.
(3) The provision relating to disbursements under subsection (d) of such section.