For purposes of sections 548.40 to 548.53:
(1) "Action" means a judicial proceeding or arbitration in which a payment in money may be awarded or enforced with respect to a foreign-money claim.
(2) "Bank-offered spot rate" means the spot rate of exchange at which a bank will sell foreign money at a spot rate.
(3) "Conversion date" means the banking day next preceding the date on which money, in accordance with sections 548.40 to 548.53, is:
(i) paid to a claimant in an action or distribution proceeding;
(ii) paid to the official designated by law to enforce a judgment or award on behalf of a claimant; or
(iii) used to recoup, set off, or counterclaim in different moneys in an action or distribution proceeding.
(4) "Distribution proceeding" means a judicial or nonjudicial proceeding for the distribution of a fund in which one or more foreign-money claims is asserted and includes an accounting, an assignment for the benefit of creditors, a foreclosure, the liquidation or rehabilitation of a corporation or other entity, and the distribution of an estate, trust, or other fund.
(5) "Foreign money" means money other than money of the United States of America.
(6) "Foreign-money claim" means a claim upon an obligation to pay, or a claim for recovery of a loss, expressed in or measured by a foreign money.
(7) "Money" means a medium of exchange for the payment of obligations or a store of value authorized or adopted by a government or by intergovernmental agreement.
(8) "Money of the claim" means the money determined as proper pursuant to section 548.43.
(9) "Person" means an individual, a corporation, government or governmental subdivision or agency, business trust, estate, trust, joint venture, partnership, association, two or more persons having a joint or common interest, or any other legal or commercial entity.
(10) "Rate of exchange" means the rate at which money of one country may be converted into money of another country in a free financial market convenient to or reasonably usable by a person obligated to pay or to state a rate of conversion. If separate rates of exchange apply to different kinds of transactions, the term means the rate applicable to the particular transaction giving rise to the foreign-money claim.
(11) "Spot rate" means the rate of exchange at which foreign money is sold by a bank or other dealer in foreign exchange for immediate or next day availability or for settlement by immediate payment in cash or equivalent, by charge to an account, or by an agreed delayed settlement not exceeding two days.
(12) "State" means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or a territory or insular possession subject to the jurisdiction of the United States.
1991 c 156 s 1
Structure Minnesota Statutes
Chapters 540 - 552 — Civil Procedure
Section 548.04 — Judgment In Replevin.
Section 548.05 — Treble Damages For Trespass.
Section 548.06 — Damages For Libel.
Section 548.07 — Judgment After Death Of Party.
Section 548.08 — Judgment Roll, How Made Up.
Section 548.09 — Lien Of Judgment.
Section 548.091 — Support, Maintenance, Or County Reimbursement Judgments.
Section 548.10 — New County; Docketing Old Judgments; Real Estate Tax Judgments.
Section 548.101 — Assigned Consumer Debt Default Judgments.
Section 548.11 — Federal Court Judgment; Docketing.
Section 548.12 — Lien Discharged By Deposit Of Money, When.
Section 548.13 — Assignment Of Judgment; Mode And Effect.
Section 548.14 — Judgments, Procured By Fraud, Set Aside By Action.
Section 548.15 — Discharge Of Record.
Section 548.16 — Satisfaction And Assignment By State.
Section 548.17 — Payment And Satisfaction By Court Administrator.
Section 548.181 — Discharge Of Judgments Against Bankruptcy Debtors.
Section 548.19 — Joint Debtors; Contribution And Subrogation.
Section 548.20 — Several Judgments Against Joint Debtors.
Section 548.21 — Discharge Of Joint Debtor.
Section 548.22 — Confession Of Judgment.
Section 548.23 — Plea Of Confession.
Section 548.24 — Submission Without Action.
Section 548.25 — Vacating Real Estate Judgment; Within What Time.
Section 548.251 — Collateral Source Calculations.
Section 548.27 — Filing And Status Of Foreign Judgments.
Section 548.28 — Notice Of Filing.
Section 548.31 — Optional Procedure.
Section 548.32 — Uniformity Of Application And Construction.
Section 548.42 — Variation By Agreement.
Section 548.43 — Determining Money Of The Claim.
Section 548.44 — Determining Amount Of The Money Of Certain Contract Claims.
Section 548.45 — Asserting And Defending Foreign-money Claim.
Section 548.47 — Conversions Of Foreign Money In Distribution Proceeding.
Section 548.48 — Prejudgment And Judgment Interest.
Section 548.49 — Enforcement Of Foreign Judgments.
Section 548.51 — Effect Of Currency Revalorization.
Section 548.52 — Supplementary General Principles Of Law.
Section 548.56 — Applicability.
Section 548.57 — Standards For Recognition Of Foreign-country Judgment.
Section 548.58 — Personal Jurisdiction.
Section 548.59 — Procedure For Recognition Of Foreign-country Judgment.
Section 548.60 — Effect Of Recognition Of Foreign-country Judgment.
Section 548.61 — Stay Of Proceedings Pending Appeal Of Foreign-country Judgment.
Section 548.62 — Statute Of Limitations.
Section 548.63 — Saving Clause.
Section 548.66 — Applicability.
Section 548.67 — Registration Of Canadian Judgment.
Section 548.68 — Effect Of Registration.
Section 548.69 — Notice Of Registration.
Section 548.70 — Petition To Vacate Registration.
Section 548.71 — Stay Of Enforcement Of Judgment Pending Determination Of Petition.
Section 548.72 — Relationship To Uniform Foreign-country Money Judgments Recognition Act.
Section 548.73 — Uniformity Of Application And Interpretation.