§ 39-4c-2

As used in the Uniform Foreign-Money Claims Act: A. 'action' means a judicial proceeding or arbitration in which a payment in money may be awarded or enforced with respect to a foreign-money claim; B. 'bank-offered spot rate' means the spot rate of exchange at which a bank will sell foreign money at a spot rate; C. 'conversion date' means the banking day next preceding the date on which money, in accordance with the Uniform Foreign-Money Claims Act, is: (1) paid to a claimant in an action or distribution proceeding; (2) paid to the official designated by law to enforce a judgment or award on behalf of a claimant; or (3) used to recoup, set-off or counterclaim in different moneys in an action or distribution proceeding; D. 'distribution proceeding' means a judicial or nonjudicial proceeding for the distribution of a fund in which one or more foreign-money claims is asserted and includes an accounting, an assignment for the benefit of creditors, a foreclosure, the liquidation or rehabilitation of a corporation or other entity and the distribution of an estate, trust or other fund; E. 'foreign money' means money other than money of the United States of America; F.

uidation or rehabilitation of a corporation or other entity and the distribution of an estate, trust or other fund; E. 'foreign money' means money other than money of the United States of America; F. '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; G. 'money' means a medium of exchange for the payment of obligations or a store of value authorized or adopted by a government or by intergovernmental agreement; H. 'money of the claim' means the money determined as proper pursuant to Section 5 [39-4C-5 NMSA 1978] of the Uniform Foreign-Money Claims Act; I. 'person' means an individual, a corporation, government or governmental subdivision or agency, business trust, estate, trust, joint venture, partnership, association, two or more persons having a joint or common interest or any other legal or commercial entity; J. 'rate of exchange' means the rate at which money of one country may be converted into money of another country in a free financial market convenient to or reasonably usable by a person obligated to pay or to state a rate of conversion; if separate rates of exchange apply to

erted into money of another country in a free financial market convenient to or reasonably usable by a person obligated to pay or to state a rate of conversion; if separate rates of exchange apply to different kinds of transactions, the term means the rate applicable to the particular transaction giving rise to the foreign-money claim; K. 'spot rate' means the rate of exchange at which foreign money is sold by a bank or other dealer in foreign exchange for immediate or next-day availability or for settlement by immediate payment in cash or equivalent, by charge to an account or by an agreed delayed settlement not exceeding two days; and L. 'state' means a state of the United States, the District of Columbia, the commonwealth of Puerto Rico or a territory or insular possession subject to the jurisdiction of the United States. History: Laws 1991, ch. 181, § 2. ANNOTATIONSApplicability. — Laws 1991, ch. 181, § 18 makes the Uniform Foreign-Money Claims Act applicable to actions and distribution proceedings commenced after July 1, 1991.