§ 50a-51

As used in this chapter:(1) 'Action' means a judicial or arbitration proceeding in which an order or award for a money payment may be tendered or enforced;(2) 'Conversion date' means, except as provided in section 50a-58, the banking day next before the date on which money or an award is, in accordance with this chapter; (i) paid to a judgment creditor, (ii) paid to the designated official enforcing a judgment on behalf of the judgment creditor or (iii) used to effect a set-off of claims in different moneys in an action;(3) '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;(4) 'Foreign money' means money other than money of the United States of America;(5) '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;(6) 'Money' means a medium of exchange for the payment of debts or other obligations, or a store of value

gation to pay, or a claim for recovery of a loss, expressed in or measured by a foreign money;(6) 'Money' means a medium of exchange for the payment of debts or other obligations, or a store of value authorized or adopted by a domestic or foreign government or by intergovernmental agreement;(7) 'Money of the claim' means the money determined as proper by section 50a-54;(8) 'Party' means an individual, a corporation, government or governmental subdivision or agency, business trust, partnership or association of two or more persons having a joint or common interest or any other legal or commercial entity asserting or defending against a foreign-money claim;(9) 'Rate of exchange' means the rate at which the money of one country may be converted into another money in a free financial market convenient to or usable by the party to pay or to state a conversion. If separate exchange rates apply to different transactions or events, the term means the rate applicable to the particular transaction or event giving rise to the foreign-money claim;(10) 'Spot rate' means the rate of exchange at which foreign money is sold by a bank or foreign-currency trader, for settlement by immediate

ransaction or event giving rise to the foreign-money claim;(10) 'Spot rate' means the rate of exchange at which foreign money is sold by a bank or foreign-currency trader, for settlement by immediate payment, by charge to an account, or by an agreed delayed settlement not exceeding two days. 'Bank-offered spot rate' means the rate at which a bank will issue its draft in the foreign currency or will cause credit to become available on a next-day basis in the foreign money.(P.A. 89-134, S. 1.)