22 USC 282j – Increase in capital stock of Corporation; subscription to additional shares
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(a) The United States Governor of the Corporation is authorized—
(1) to vote for an increase of 650,000 shares in the authorized capital stock of the Corporation; and
(2) to subscribe on behalf of the United States to 175,162 additional shares of the capital stock of the Corporation, except that any subscription to additional shares shall be effective only to such extent or in such amounts as are provided in advance in appropriations Acts.
Terms Used In 22 USC 282j
- 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
(b) In order to pay for the increase in the United States subscription to the Corporation provided for in this section, there are authorized to be appropriated, without fiscal year limitation, §175,162,000 for payment by the Secretary of the Treasury.