22 U.S.C. § 2191 — Untitled legal text

Page 678 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE §§ 2191 to 2194 2 So in original. Probably should be ‘‘issued’’. the event the borrower elects not to finance such costs or fees out of loan principal. Guaran- tees once issued hereunder shall be uncondi- tional and fully and freely transferable. (m) Terms and conditions (1) Each loan guarantee issued under this sec- tion shall guarantee 100 percent of the principal and interest payable on such loans. (2) The standard terms of any loan or incre- ment guaranteed under this section shall be 30 years with semiannual payments of interest only over the first 10 years, and with semiannual payments of principal and interest on a level payment basis, over the last 20 years thereof, ex- cept that the guaranteed loan or any increments issued in a single transaction may include obli- gations having different maturities, interest rates, and payment terms if the aggregate scheduled debt service for all obligations issued in a single transaction equals the debt service for a single loan or increment of like amount having the standard terms described in this sen- tence. The guarantor shall not have the right to accelerate any guaranteed loan or increment or to pay any amounts in respect of the guarantees issued other than in accordance with the origi- nal payment terms of the loan. For purposes of determining the maximum principal amount of any loan or increment to be guaranteed under this section, the principal amount of each such loan or increment shall be— (A) in the case of any loan issued on a dis- count basis, the original issue price (excluding any transaction costs) thereof; or (B) in the case of any loan issue 2 on an in- terest-bearing basis, the stated principal amount thereof. (Pub. L. 87–195, pt. I, § 226, as added Pub. L. 102–391, title VI, § 601, Oct. 6, 1992, 106 Stat. 1699.) Editorial Notes REFERENCES IN TEXT The Federal Credit Reform Act of 1990, referred to in subsecs. (e)(1) and (l), is title V of Pub. L. 93–344 as added by Pub. L. 101–508, title XIII, § 13201(a), Nov. 5, 1990, 104 Stat. 1388–609, which is classified generally to subchapter III (§ 661 et seq.) of chapter 17A of Title 2, The Congress. For complete classification of this Act to the Code, see Short Title note set out under section 621 of Title 2 and Tables. Section 601(b) of the International Security Assist- ance and Arms Export Control Act of 1976, referred to in subsec. (g)(3), is section 601(b) of Pub. L. 94–329, title VI, June 30, 1976, 90 Stat. 765, which is not classified to the Code. Section 2198(c) of this title, referred to in subsec. (l), was repealed by Pub. L. 115–254, div. F, title VI, § 1464(2), Oct. 5, 2018, 132 Stat. 3513. Executive Documents DELEGATION OF FUNCTIONS For delegation of functions of President under this section, see Ex. Ord. No. 12163, Sept. 29, 1979, 44 F.R. 56673, as amended, set out as a note under section 2381 of this title. SUBPART IV—OVERSEAS PRIVATE INVESTMENT CORPORATION §§ 2191 to 2194. Repealed. Pub. L. 115–254, div. F, title VI, § 1464(2), Oct. 5, 2018, 132 Stat. 3513 Section 2191, Pub. L. 87–195, pt. I, § 231, as added Pub. L. 91–175, pt. I, § 105, Dec. 30, 1969, 83 Stat. 809; amended Pub. L. 93–390, § 2(1), Aug. 27, 1974, 88 Stat. 763; Pub. L. 95–268, § 2, Apr. 24, 1978, 92 Stat. 213; Pub. L. 97–65, § 2, Oct. 16, 1981, 95 Stat. 1021; Pub. L. 99–204, §§ 3, 4(a), Dec. 23, 1985, 99 Stat. 1669; Pub. L. 100–461, title V, § 555, Oct. 1, 1988, 102 Stat. 2268–36; Pub. L. 102–549, title I, § 101, Oct. 28, 1992, 106 Stat. 3651; Pub. L. 103–392, title I, § 105, Oct. 22, 1994, 108 Stat. 4099, related to congressional statement of purpose and the creation and functions of Overseas Private Investment Corporation. Section 2191a, Pub. L. 87–195, pt. I, § 231A, as added Pub. L. 99–204, § 5(a), Dec. 23, 1985, 99 Stat. 1670; amend- ed Pub. L. 100–418, title II, § 2203(c), Aug. 23, 1988, 102 Stat. 1328; Pub. L. 102–549, title I, § 102(a), Oct. 28, 1992, 106 Stat. 3651; Pub. L. 104–188, title I, § 1954(b)(3), Aug. 20, 1996, 110 Stat. 1928; Pub. L. 106–158, § 3(a), Dec. 9, 1999, 113 Stat. 1745, related to additional requirements. Section 2191b, Pub. L. 111–117, div. F, title VII, § 7079(b), Dec. 16, 2009, 123 Stat. 3396, related to worker rights and human rights guidelines. Section 2192, Pub. L. 87–195, pt. I, § 232, as added Pub. L. 91–175, pt. I, § 105, Dec. 30, 1969, 83 Stat. 810, related to capital of the Corporation. Section 2193, Pub. L. 87–195, pt. I, § 233, as added Pub. L. 91–175, pt. I, § 105, Dec. 30, 1969, 83 Stat. 810; amended Pub. L. 97–65, § 3(a), (b), Oct. 16, 1981, 95 Stat. 1021, 1022; Pub. L. 106–158, § 4, Dec. 9, 1999, 113 Stat. 1746; Pub. L. 106–200, title I, § 123(c)(1), May 18, 2000, 114 Stat. 269; Pub. L. 108–158, § 3(e), Dec. 3, 2003, 117 Stat. 1950, related to organization and management of the Corporation. Section 2194, Pub. L. 87–195, pt. I, § 234, as added Pub. L. 91–175, pt. I, § 105, Dec. 30, 1969, 83 Stat. 811; amended 1970 Reorg. Plan No. 2, § 102, eff. July 1, 1970, 35 F.R. 7959, 84 Stat. 2085; Pub. L. 93–390, § 2(2), Aug. 27, 1974, 88 Stat. 764; Pub. L. 95–268, § 3, Apr. 24, 1978, 92 Stat. 214; Pub. L. 97–65, § 4, Oct. 16, 1981, 95 Stat. 1022; Pub. L. 99–204, §§ 6(a), 7, 8, Dec. 23, 1985, 99 Stat. 1671, 1672; Pub. L. 100–461, title V, § 555, Oct. 1, 1988, 102 Stat. 2268–36; Pub. L. 101–218, § 8(c), Dec. 11, 1989, 103 Stat. 1868; Pub. L. 102–549, title I, § 103, Oct. 28, 1992, 106 Stat. 3651; Pub. L. 106–31, title VI, § 6001, May 21, 1999, 113 Stat. 112; Pub. L. 108–158, §§ 4(a), 5(a), Dec. 3, 2003, 117 Stat. 1950, related to investment insurance and other programs. Editorial Notes PRIOR PROVISIONS A prior section 231 of Pub. L. 87–195, pt. 1, Sept. 4, 1961, 75 Stat. 432, related to general authority of Presi- dent to participate in financing of surveys of invest- ment opportunities in less developed friendly countries, prior to the general reorganization of this subpart by Pub. L. 91–175, pt. I, § 105, Dec. 30, 1969, 83 Stat. 807. A prior section 232 of Pub. L. 87–195, pt. I, Sept. 4, 1961, 75 Stat. 432 as amended by Pub. L. 87–565, pt. I, § 105, Aug. 1, 1962, 76 Stat. 257; Pub. L. 88–633, pt. I, § 104, Oct. 7, 1964, 78 Stat. 1010; Pub. L. 90–137, pt. I, § 105, Nov. 14, 1967, 81 Stat. 451, authorized appropriations for sur- veys of investment opportunities, prior to the general reorganization of this subpart by Pub. L. 91–175, pt. I, § 105, Dec. 30, 1969, 83 Stat. 807. A prior section 233 of Pub. L. 87–195, pt. I, Sept. 4, 1961, 75 Stat. 432, contained definitions, prior to the general reorganization of this subpart by Pub. L. 91–175, pt. I, § 105, Dec. 30, 1969, 83 Stat. 807. Page 679 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 2197 Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF REPEAL Repeal effective at the end of the transition period, as defined in section 9681 of this title, see section 9684 of this title. APPROPRIATION OF MONEYS IN ADVANCE AS REQUISITE TO PURCHASES, INVESTMENTS, OR OTHER ACQUISI- TIONS OF EQUITY BY FUND CREATED UNDER PILOT EQUITY FINANCE PROGRAM Pub. L. 100–461, title V, § 555, Oct. 1, 1988, 102 Stat. 2268–36, provided in part: ‘‘That purchases, investments or other acquisitions of equity by the fund created by section 104 of H.R. 5263 as hereby enacted [former 22 U.S.C. 2194(g)(5)] are limited to such amounts as may be provided in advance in appropriations Acts’’, and fur- ther provided ‘‘That purchases, investments or other acquisitions of equity by the fund created by section 104 of S. 2757 as hereby enacted [former 22 U.S.C. 2194(g)(5)] are limited to such amounts as may be pro- vided in advance in appropriations Acts’’. OVERSEAS PRIVATE INVESTMENT CORPORATION; REAFFIRMATION OF SUPPORT Pub. L. 100–418, title II, § 2203(a), Aug. 23, 1988, 102 Stat. 1328, provided that Congress reaffirmed its sup- port for the former Overseas Private Investment Cor- poration as a United States Government agency serv- ing important development assistance goals. Executive Documents EX. ORD. NO. 11579. OVERSEAS PRIVATE INVESTMENT CORPORATION Ex. Ord. No. 11579, Jan. 19, 1971, 36 F.R. 969, as amend- ed by Ex. Ord. No. 12107, Dec. 28, 1978, 44 F.R. 1055; Ex. Ord. No. 12163, Sept. 29, 1979, 44 F.R. 56673, provided: By virtue of the authority vested in me by the For- eign Assistance Act of 1961 (75 Stat. 424), as amended (hereinafter the ‘‘Act’’) [section 2151 et seq. of this title] and section 301 of title 3 of the United States Code, and as President of the United States, it is or- dered as follows: SECTION 1. Transfer to Overseas Private Investment Cor- poration. All obligations, assets and related rights and responsibilities arising out of, or related to, prede- cessor programs and authorities similar to those pro- vided for in sections 234(a), (b) and (d) of the Act [former section 2194(a), (b) and (d) of this title] are hereby transferred to the Overseas Private Investment Corporation (hereinafter the ‘‘Corporation’’). SEC. 2. Delegation of functions. (a) [Revoked by Ex. Ord. No. 12163, Sept. 29, 1979, 44 F.R. 56673.] (b) The function of prescribing regulations relating to the reinstatement or restoration of officers and em- ployees of the Corporation to other government posi- tions, when their appointment to a position in the Cor- poration was made from another government position and their separation from the Corporation was not made for cause, is hereby delegated to the Office of Per- sonnel Management. SEC. 3. Allocation and transfer of funds. Funds made available under section 232 of the Act (repealed by sec- tion 105 of the Foreign Assistance Act of 1969) [former section 2192 of this title] which are obligated but unex- pended are hereby transferred to the Corporation. SEC. 4. General provisions. (a) As used in this order, the words ‘‘function’’ or ‘‘functions’’ include any duty, obligation, power, authority, responsibility, right, privilege, discretion, or activity. (b) The Corporation shall be deemed to be the suc- cessor of the Agency for International Development and the Administrator thereof, with respect to all func- tions vested in the Corporation pursuant to law. (c) Except to the extent that they may be incon- sistent with this order, all determinations, authoriza- tions, regulations, rulings, certificates, orders, direc- tives, contracts, agreements, and other actions made, issued, or entered into with respect to any function af- fected by this order and not revoked, superseded or oth- erwise made inapplicable before the date of this order, shall continue in full force and effect until amended, modified, or terminated by appropriate authority. (d) Executive Order No. 10973 of November 3, 1961, as amended [formerly set out as a note under section 2381 of this title], is hereby superseded insofar as any provi- sion therein is in conflict with any provision herein. (e) The provisions of this order shall become effective upon adoption by the Board of Directors of bylaws for the Corporation. [For transfer of functions, personnel, assets, and li- abilities of the Overseas Private Investment Corpora- tion to the United States International Development Finance Corporation and treatment of related ref- erences, see sections 9683 and 9686(d) of this title.] § 2194a. Omitted Editorial Notes CODIFICATION Section, Pub. L. 97–65, § 5(b)(2), Oct. 16, 1981, 95 Stat. 1023, which related to contract authority of the Over- seas Private Investment Corporation, was omitted from the Code as obsolete pursuant to the termination of the Corporation by section 9684 of this title. §§ 2194b to 2196. Repealed. Pub. L. 115–254, div. F, title VI, § 1464(2), Oct. 5, 2018, 132 Stat. 3513 Section 2194b, Pub. L. 87–195, pt. I, § 234A, as added Pub. L. 99–204, § 9(a), Dec. 23, 1985, 99 Stat. 1672; amend- ed Pub. L. 100–461, title V, § 555, Oct. 1, 1988, 102 Stat. 2268–36; Pub. L. 117–286, § 4(a)(166), Dec. 27, 2022, 136 Stat. 4324, related to enhancing private political risk insur- ance industry. Section 2195, Pub. L. 87–195, pt. I, § 235, as added Pub. L. 91–175, pt. I, § 105, Dec. 30, 1969, 83 Stat. 813; amended Pub. L. 93–189, § 6(1), Dec. 17, 1973, 87 Stat. 717; Pub. L. 93–390, § 2(3), Aug. 27, 1974, 88 Stat. 766; Pub. L. 95–268, § 4, Apr. 24, 1978, 92 Stat. 214; Pub. L. 97–65, § 5(a), (b)(1), (c), Oct. 16, 1981, 95 Stat. 1022, 1023; Pub. L. 99–204, §§ 9(b)(1), 10, 17(b), Dec. 23, 1985, 99 Stat. 1673, 1676; Pub. L. 100–418, title II, § 2203(b), Aug. 23, 1988, 102 Stat. 1328; Pub. L. 100–461, title V, § 555, Oct. 1, 1988, 102 Stat. 2268–36; Pub. L. 102–549, title I, § 104, Oct. 28, 1992, 106 Stat. 3652; Pub. L. 103–392, title I, §§ 101–104, Oct. 22, 1994, 108 Stat. 4098; Pub. L. 104–208, div. A, title I, § 101(c) [title I], Sept. 30, 1996, 110 Stat. 3009–121, 3009–123; Pub. L. 105–118, title V, § 581, Nov. 26, 1997, 111 Stat. 2435; Pub. L. 106–113, div. B, § 1000(a)(2) [title V, § 599E], Nov. 29, 1999, 113 Stat. 1535, 1501A–132; Pub. L. 106–158, § 2, Dec. 9, 1999, 113 Stat. 1745; Pub. L. 108–158, §§ 2, 3(a)–(d), Dec. 3, 2003, 117 Stat. 1949, related to issuing authority, direct investment authority and reserves. Section 2196, Pub. L. 87–195, pt. I, § 236, as added Pub. L. 91–175, pt. I, § 105, Dec. 30, 1969, 83 Stat. 814, related to income and revenues. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF REPEAL Repeal effective at the end of the transition period, as defined in section 9681 of this title, see section 9684 of this title. § 2197. General provisions relating to insurance, guaranty, financing, and reinsurance pro- grams (a) to (f). Repealed. Pub. L. 115–254, div. F, title VI, § 1464(2), Oct. 5, 2018, 132 Stat. 3513 (g) Fraud or misrepresentation No payment may be made under any guaranty, insurance, or reinsurance issued pursuant to