§ 9-32.1-13. Effect of currency revalorization.
(a) If, after an obligation is expressed or a loss is incurred in a foreign money, the country issuing or adopting that money substitutes a new money in place of that money, the obligation or the loss is treated as if expressed or incurred in the new money at the rate of conversion the issuing country establishes for the payment of like obligations or losses denominated in the former money.
(b) If substitution under subsection (a) occurs after a judgment or award is entered on a foreign money claim, the court or arbitrator shall amend the judgment or award by a like conversion of the former money.
History of Section.P.L. 2009, ch. 248, § 1; P.L. 2009, ch. 266, § 1.
Structure Rhode Island General Laws
Title 9 - Courts and Civil Procedure – Procedure Generally
Chapter 9-32.1 - Uniform Foreign Money Claims Act
Section 9-32.1-1. - Short title.
Section 9-32.1-2. - Definitions.
Section 9-32.1-4. - Variation by agreement.
Section 9-32.1-5. - Determining money of the claim.
Section 9-32.1-6. - Determining the amount of money of certain contract claims.
Section 9-32.1-7. - Asserting and defending a foreign money claim.
Section 9-32.1-9. - Conversions of foreign money in distribution proceeding.
Section 9-32.1-10. - Prejudgment and judgment interest.
Section 9-32.1-11. - Enforcement of foreign judgments.
Section 9-32.1-13. - Effect of currency revalorization.
Section 9-32.1-14. - Supplementary general principles of law.
Section 9-32.1-15. - Uniformity of application and construction.