(a) Except as provided in paragraph (c), a judgment or award on a foreign-money claim must be stated in an amount of the money of the claim.
(b) A judgment or award on a foreign-money claim is payable in the amount of United States dollars which will purchase that foreign money on the conversion date at a bank-offered spot rate.
(c) Assessed costs must be entered in United States dollars.
(d) A judgment or award made in an action or distribution proceeding on both (i) a defense, setoff, recoupment, or counterclaim and (ii) the adverse party's claim, must be netted by converting the money of the smaller into the money of the larger, and by subtracting the smaller from the larger, and specify the rates of exchange used.
(e) A judgment substantially in the following form complies with paragraph (a):
IT IS ADJUDGED AND ORDERED, that defendant (insert name) pay to plaintiff (insert name) the sum of (insert amount in the foreign money) plus interest on that sum at the rate of (insert rate--see section 548.48) percent a year or the number of United States dollars which will purchase the (insert name of foreign money) with interest due, at a bank-offered spot rate at or near the close of business on the banking day next before the day of payment, together with assessed costs of (insert amount) United States dollars.
(f) If a contract claim is of the type covered by section 548.44, paragraph (a) or (b), the judgment or award must be entered for the amount of money stated to measure the obligation to be paid in the money specified for payment or, at the option of the debtor, the number of United States dollars which will purchase the computed amount of the money of payment on the conversion date at a bank-offered spot rate.
(g) On a foreign-money claim, the judgment must be docketed in United States dollars, and has the same effect as a lien, as other judgments. It may be discharged by payment.
1991 c 156 s 7; 2005 c 14 s 2
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.