Section 39-4C-1 – Short title.
Sections 1 through 16 [39-4C-1 to 39-4C-16 NMSA 1978] of this act may be cited as the Uniform Foreign-Money Claims Act. History: Laws 1991, ch. 181, § 1. ANNOTATIONS Applicability. — Laws 1991, ch. 181, § 18 makes the Uniform Foreign-Money Claims Act applicable to actions and distribution proceedings commenced after July 1, 1991.
Section 39-4C-2 – Definitions.
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; […]
Section 39-4C-3 – Scope.
A. The Uniform Foreign-Money Claims Act applies only to a foreign-money claim in an action or distribution proceeding. B. The Uniform Foreign-Money Claims Act applies to foreign-money issues even if other law under the conflict of laws rules of this state applies to other issues in the action or distribution proceeding. History: Laws 1991, ch. […]
Section 39-4C-4 – Variation by agreement.
A. The effect of the Uniform Foreign-Money Claims Act may be varied by agreement of the parties made before or after commencement of an action or distribution proceeding or the entry of judgment. B. Parties to a transaction may agree upon the money to be used in a transaction giving rise to a foreign-money claim […]
Section 39-4C-5 – Determining money of the claim.
A. The money in which the parties to a transaction have agreed that payment is to be made is the proper money of the claim for payment. B. If the parties to a transaction have not otherwise agreed, the proper money of the claim, as in each case may be appropriate, is the money: (1) […]
Section 39-4C-6 – Determining amount of the money of certain contract claims.
A. If an amount contracted to be paid in a foreign money is measured by a specified amount of a different money, the amount to be paid is determined on the conversion date. B. If an amount contracted to be paid in a foreign money is to be measured by a different money at the […]