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 United States dollars resulting from a conversion as of the date the proceeding was initiated.
Cal. Civ. Proc. Code § 676.8
UNIFORM FOREIGN-MONEY CLAIMS ACT
Known as the Uniform Foreign-Money Claims Act
The act spans §§ 676–676 (17 sections).
Added by Stats. 1991, Ch. 932, Sec. 1.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.