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.
§ 39-4C-9 NMSA 1978
Conversions of foreign money in distribution proceeding
Known as the Uniform Foreign-Money Claims Act
The act spans §§ 39–39 (16 sections).
Laws 1991, ch. 181, § 9.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.