Overseas Private Investment Corporation Amendments Act of 1978

Summary

Overseas Private Investment Corporation Amendments Act - Amends the Foreign Assistance Act of 1961 to revise the criteria of the Overseas Private Investment Corporation in granting insurance and financing assistance. Repeals certain quantitative limitations on investment insurance and requirements regarding participation of private insurance companies. Prohibits direct investment loans for oil or gas extraction. Repeals prohibitions against financing surveys on the Corporation's maximum contingent liability. Extends the authority of the Corporation to engage in insurance investment. Revises limitations on the Corporation's investment and guaranty program. Permits the Corporation to issue certain participation certificates. Requires the Corporation to submit a report on the development of private and multilateral investment insurance programs. Requires the Corporation to consider certain social and economic effects as criteria for investment insurance and financing. Requires the Corporation to prepare a Development Impact Profile on projects involving insurance of development programs. Prohibits insurance payments to any investor determined to be responsible for an act of bribery by any Federal agency or court of the United States.

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Documents

3 official files

• Public Law (PDF)

  Public Law · EN · 25 April 1978

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• Conference report filed in House

  summary · EN · 5 April 1978

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• Introduced in House

  summary · EN · 19 September 1977

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