§ 15-907. Conversions of foreign money in distribution proceeding.

Current through October 23, 2012

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.

                
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(Feb. 10, 1996, D.C. Law 11-85, § 2, 42 DCR 6791.)

HISTORICAL AND STATUTORY NOTES

Prior Codifications

1981 Ed., § 15-907.

Legislative History of Laws

For legislative history of D.C. Law 11-85, see Historical and Statutory Notes following § 15-901.

Uniform Law

This section is based upon § 8 of the Uniform Foreign-Money Claims Act. See 13 Uniform Laws Annotated, Master Edition, or ULA Database on WESTLAW.