The rate of exchange prevailing at or near the close of business on the day the distribution proceeding is initiated shall govern 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.
N.C. Gen. Stat. § 1C-1827
Conversions of foreign money in distribution proceedings
Known as the North Carolina Foreign-Money Claims Act
The act spans §§ 1C-1820 to 1C-1849 (30 sections).
1995, c. 213, s. 1.
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.