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.
R.I. Gen. Laws § 9-32.1-9
Conversions of foreign money in distribution proceeding
Known as the Uniform Foreign Money Claims Act
The act spans §§ 9-32.1-1 to 9-32.1-9 (17 sections).
P.L. 2009, ch. 248, § 1; P.L. 2009, ch. 266, § 1.
Official source: Rhode Island General Assembly. Reproduced from public-domain Rhode Island statutes; confirm against the official source for the current text. Not legal advice.