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.
1991, c. 24.
Structure Code of Virginia
Title 8.01 - Civil Remedies and Procedure
Chapter 17.3 - Uniform Foreign-Money Claims Act
§ 8.01-465.16. Variation by agreement
§ 8.01-465.17. Determining money of the claim
§ 8.01-465.18. Determining amount of the money of certain contract claims
§ 8.01-465.19. Asserting and defending foreign-money claim
§ 8.01-465.21. Conversions of foreign money in distribution proceeding
§ 8.01-465.22. Prejudgment and judgment interest
§ 8.01-465.23. Enforcement of foreign judgments
§ 8.01-465.24. Determining United States dollar value of foreign-money claims for limited purposes
§ 8.01-465.25. Effect of substitution of currency by issuing authority