Unless the instrument otherwise provides, an instrument that states the amount payable in foreign money may be paid in the foreign money or in an equivalent amount in dollars calculated by using the current bank-offered spot rate at the place of payment for the purchase of dollars on the day on which the instrument is paid.
Ark. Code Ann. § 4-3-107
Instrument payable in foreign money
Known as the Uniform Commercial Code
The act spans §§ 4–4 (597 sections).
Acts 1991, No. 572, § 5.
Current official text: Arkansas General Assembly. Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Arkansas statutes; confirm against the official source for the current text. Not legal advice.