Connecticut General Statutes 50a-58 – Conversion of foreign money in distribution proceeding
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A foreign-money claim in a distribution proceeding shall show its amount in the named foreign money and the amount of United States dollars resulting from a conversion as of the date the proceeding was initiated.
Terms Used In Connecticut General Statutes 50a-58
- Distribution proceeding: means a judicial or nonjudicial proceeding for an accounting, an assignment for the benefit of creditors, a foreclosure, or for the distribution, liquidation, or rehabilitation of a corporation, other entity, an estate, trust, or other fund in or against which the share of a foreign-money claim is asserted. See Connecticut General Statutes 50a-51
- Foreign money: means money other than money of the United States of America. See Connecticut General Statutes 50a-51
- 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. See Connecticut General Statutes 50a-51