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.
CREDIT(S)
(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.