§ 9-32.1-12 - Determining United States dollar value of foreign money claims for limited purposes.
SECTION 9-32.1-12
§ 9-32.1-12 Determining United Statesdollar value of foreign money claims for limited purposes. – (a) Computations under this section are for the limited purposes of the sectionand do not affect computation of the United States dollar equivalent of themoney of the judgment for the purpose of payment.
(b) For the limited purpose of facilitating the enforcementof provisional remedies in an action, the value in United States dollars ofassets to be seized or restrained pursuant to a writ of attachment,garnishment, execution, or other legal process, the amount of United Statesdollars at issue for assessing costs, or the amount of United States dollarsinvolved for a surety bond or other court-required undertaking, must beascertained as provided in subsections (c) and (d).
(c) A party seeking process, costs, bond, or otherundertaking under subsection (b) shall compute in United States dollars theamount of the foreign money claimed from a bank-offered spot rate prevailing ator near the close of business on the banking day next preceding the filing of arequest or application for the issuance of process or for the determination ofcosts, or an application for a bond or other court-required undertaking.
(d) A party seeking the process, costs, bond, or otherundertaking under subsection (b) shall file with each request or application anaffidavit or certificate executed in good faith by its counsel or a bankofficer, stating the market quotation used and how it was obtained, and settingforth the calculation. Affected court officials incur no liability, after afiling of the affidavit or certificate, for acting as if the judgment were inthe amount of United States dollars stated in the affidavit or certificate.