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.
(Feb. 10, 1996, D.C. Law 11-85, § 2, 42 DCR 6791.)
1981 Ed., § 15-907.
This section is referenced in § 15-909.
Uniform Law: This section is based upon § 8 of the Uniform Foreign-Money Claims Act.
Structure District of Columbia Code
Title 15 - Judgments and Executions; Fees and Costs. [Enacted title]
Chapter 9 - Uniform Foreign-Money Claims
§ 15–902. Variation by agreement
§ 15–903. Determining money of the claim
§ 15–904. Determining amount of the money of certain contract claims
§ 15–905. Asserting and defending a foreign-money claim
§ 15–906. Judgments and awards on foreign-money claims; times of money conversion; form of judgment
§ 15–907. Conversions of foreign money in distribution proceeding
§ 15–908. Prejudgment and judgment interest
§ 15–909. Enforcement of foreign judgments
§ 15–910. Determining United States dollar value of foreign-money claims for limited purposes
§ 15–911. Effect of currency revalorization