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§ 12-638 Conversions of foreign money in distribution proceeding

Article XII: Judgments - Enforcement

Part 6: Foreign Judgments and Foreign-Money Claims

The rate of exchange prevailing at or near the close of business on the day the distribution proceeding is initiated governs all exchanges of foreign money in a distribution proceeding. A foreign-money claimant in a distribution proceeding shall assert its claim in the named foreign money and show the amount of the United States dollars resulting from a conversion as of the date the proceeding was initiated.

Amendment history: (from Ch. 110, par. 12-638) (Source: P.A. 86-1291.)