§ 286i. Stabilization loans by Bank; amendment to Articles of Agreement

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1945

   Bretton Woods Agreements Act

   Pub. L. 79–339 § 12 · 59 Stat. 512

   Enacted · 22 U.S.C. § 286i

   (July 31, 1945, ch. 339, § 12, 59 Stat. 516.)

   Source evidence

   Code source credit
   (July 31, 1945, ch. 339, § 12, 59 Stat. 516.)

   Enacted provision · exact public law section
   Sec. 12. stabilization loans by the bank The governor and executive director of the Bank appointed by the United States are hereby directed to obtain promptly an official interpretation by the Bank as to its authority to make or guarantee loans for programs of economic reconstruction and the reconstruction of monetary systems, including long-term stabilization loans. If the Bank does not interpret its powers to include the making or guaranteeing of such loans, the governor of the Bank representing the United States is hereby directed to propose promptly and support an amendment to the Articles of Agreement for the purpose of explicitly authorizing the Bank, after consultation with the Fund, to make or guarantee such loans. The President is hereby authorized and directed to accept an amendment to that effect on behalf of the United States.

1 of 1 references resolved to an enrolled provision