§1C‑1826. Judgments and awards on foreign‑money claims, times ofmoney conversion; form of judgments.
(a) Except as providedin subsection (c) of this section, a judgment or award on a foreign‑moneyclaim must be stated in an amount of the money of the claim.
(b) A judgment or awardon a foreign‑money claim is payable in that foreign money or, at theoption of the debtor, in the amount of United States dollars that will purchasethat foreign money on the conversion date at a bank‑offered spot rate.
(c) A judgment or awardon a foreign‑money claim shall assess costs in United States dollars.
(d) Each payment inUnited States dollars shall be accepted and credited on a judgment or award ona foreign‑money claim in the amount of the foreign money that could bepurchased by the dollars at a bank‑offered spot rate of exchange at ornear the close of business on the conversion date for that payment.
(e) A judgment or awardmade in an action or distribution proceeding on:
(1) A defense, setoff,recoupment, or counterclaim, and
(2) The adverse party'sclaim
shall be netted by converting themoney of the smaller into the money of the larger, and by subtracting thesmaller from the larger and shall specify the rates of exchange used.
(f) A judgmentsubstantially in the following form satisfies the provisions of this section:
"It is ORDERED, ADJUDGED,AND DECREED that defendant (insert name) pay to Plaintiff (insert name) the sumof (insert amount in the foreign money) plus interest on that sum at the rateof (insert rate pursuant to G.S. 1C‑1828) percent a year or, at theoption of the judgment debtor, the number of United States dollars that willpurchase the (insert name of foreign money) with interest due, at a bank‑offeredspot rate at or near the close of business on the banking day next before theday of payment, together with assessed costs of (insert amount) United Statesdollars."
(g) If a contract claimis of the type covered by G.S. 1C‑1824(a) or G.S. 1C‑1824(b), thejudgment or award shall be entered for the amount of money stated to measurethe obligation to be paid in the money specified for payment or, at the optionof the debtor, the number of United States dollars that will purchase thecomputed amount of the money of payment on the conversion date at a bank‑offeredspot rate.
(h) A judgment shall befiled, docketed, and indexed in foreign money in the same manner as otherjudgments and has the same effect as a lien. A judgment may be discharged bypayment.
(i) A party seekingenforcement of a judgment entered as provided in this section shall file witheach request or application an affidavit or certificate executed in good faithby its counsel or a bank officer, stating the rate of exchange used and how itwas obtained and setting forth the calculation and the amount of United Statesdollars that would satisfy the judgment on the date of the affidavit orcertificate by applying that rate of exchange. Affected court officials shallincur no liability, after a filing of the affidavit or certificate, for actingas if the judgment were in the amount of United States dollars stated in theaffidavit or certificate. The computation contained in the affidavit orcertificate shall remain in effect for 90 days following the filing of theaffidavit or certificate and may be recomputed before the expiration of 90 daysby filing additional affidavits or certificates. Recomputation shall not affectany payment obtained before the filing of the recomputation.
(j) When a payment ismade to a clerk's office pursuant to G.S. 1‑239, the clerk may determinethe spot rate of exchange on the conversion date on the basis of informationreceived in good faith from any bank officer or other reliable source and shallincur no liability to any person for crediting a payment toward a judgment, orfor marking a judgment satisfied in full, on the basis of the rate sodetermined. (1995, c. 213, s. 1.)
§1C‑1826. Judgments and awards on foreign‑money claims, times ofmoney conversion; form of judgments.
(a) Except as providedin subsection (c) of this section, a judgment or award on a foreign‑moneyclaim must be stated in an amount of the money of the claim.
(b) A judgment or awardon a foreign‑money claim is payable in that foreign money or, at theoption of the debtor, in the amount of United States dollars that will purchasethat foreign money on the conversion date at a bank‑offered spot rate.
(c) A judgment or awardon a foreign‑money claim shall assess costs in United States dollars.
(d) Each payment inUnited States dollars shall be accepted and credited on a judgment or award ona foreign‑money claim in the amount of the foreign money that could bepurchased by the dollars at a bank‑offered spot rate of exchange at ornear the close of business on the conversion date for that payment.
(e) A judgment or awardmade in an action or distribution proceeding on:
(1) A defense, setoff,recoupment, or counterclaim, and
(2) The adverse party'sclaim
shall be netted by converting themoney of the smaller into the money of the larger, and by subtracting thesmaller from the larger and shall specify the rates of exchange used.
(f) A judgmentsubstantially in the following form satisfies the provisions of this section:
"It is ORDERED, ADJUDGED,AND DECREED that defendant (insert name) pay to Plaintiff (insert name) the sumof (insert amount in the foreign money) plus interest on that sum at the rateof (insert rate pursuant to G.S. 1C‑1828) percent a year or, at theoption of the judgment debtor, the number of United States dollars that willpurchase the (insert name of foreign money) with interest due, at a bank‑offeredspot rate at or near the close of business on the banking day next before theday of payment, together with assessed costs of (insert amount) United Statesdollars."
(g) If a contract claimis of the type covered by G.S. 1C‑1824(a) or G.S. 1C‑1824(b), thejudgment or award shall be entered for the amount of money stated to measurethe obligation to be paid in the money specified for payment or, at the optionof the debtor, the number of United States dollars that will purchase thecomputed amount of the money of payment on the conversion date at a bank‑offeredspot rate.
(h) A judgment shall befiled, docketed, and indexed in foreign money in the same manner as otherjudgments and has the same effect as a lien. A judgment may be discharged bypayment.
(i) A party seekingenforcement of a judgment entered as provided in this section shall file witheach request or application an affidavit or certificate executed in good faithby its counsel or a bank officer, stating the rate of exchange used and how itwas obtained and setting forth the calculation and the amount of United Statesdollars that would satisfy the judgment on the date of the affidavit orcertificate by applying that rate of exchange. Affected court officials shallincur no liability, after a filing of the affidavit or certificate, for actingas if the judgment were in the amount of United States dollars stated in theaffidavit or certificate. The computation contained in the affidavit orcertificate shall remain in effect for 90 days following the filing of theaffidavit or certificate and may be recomputed before the expiration of 90 daysby filing additional affidavits or certificates. Recomputation shall not affectany payment obtained before the filing of the recomputation.
(j) When a payment ismade to a clerk's office pursuant to G.S. 1‑239, the clerk may determinethe spot rate of exchange on the conversion date on the basis of informationreceived in good faith from any bank officer or other reliable source and shallincur no liability to any person for crediting a payment toward a judgment, orfor marking a judgment satisfied in full, on the basis of the rate sodetermined. (1995, c. 213, s. 1.)
§1C‑1826. Judgments and awards on foreign‑money claims, times ofmoney conversion; form of judgments.
(a) Except as providedin subsection (c) of this section, a judgment or award on a foreign‑moneyclaim must be stated in an amount of the money of the claim.
(b) A judgment or awardon a foreign‑money claim is payable in that foreign money or, at theoption of the debtor, in the amount of United States dollars that will purchasethat foreign money on the conversion date at a bank‑offered spot rate.
(c) A judgment or awardon a foreign‑money claim shall assess costs in United States dollars.
(d) Each payment inUnited States dollars shall be accepted and credited on a judgment or award ona foreign‑money claim in the amount of the foreign money that could bepurchased by the dollars at a bank‑offered spot rate of exchange at ornear the close of business on the conversion date for that payment.
(e) A judgment or awardmade in an action or distribution proceeding on:
(1) A defense, setoff,recoupment, or counterclaim, and
(2) The adverse party'sclaim
shall be netted by converting themoney of the smaller into the money of the larger, and by subtracting thesmaller from the larger and shall specify the rates of exchange used.
(f) A judgmentsubstantially in the following form satisfies the provisions of this section:
"It is ORDERED, ADJUDGED,AND DECREED that defendant (insert name) pay to Plaintiff (insert name) the sumof (insert amount in the foreign money) plus interest on that sum at the rateof (insert rate pursuant to G.S. 1C‑1828) percent a year or, at theoption of the judgment debtor, the number of United States dollars that willpurchase the (insert name of foreign money) with interest due, at a bank‑offeredspot rate at or near the close of business on the banking day next before theday of payment, together with assessed costs of (insert amount) United Statesdollars."
(g) If a contract claimis of the type covered by G.S. 1C‑1824(a) or G.S. 1C‑1824(b), thejudgment or award shall be entered for the amount of money stated to measurethe obligation to be paid in the money specified for payment or, at the optionof the debtor, the number of United States dollars that will purchase thecomputed amount of the money of payment on the conversion date at a bank‑offeredspot rate.
(h) A judgment shall befiled, docketed, and indexed in foreign money in the same manner as otherjudgments and has the same effect as a lien. A judgment may be discharged bypayment.
(i) A party seekingenforcement of a judgment entered as provided in this section shall file witheach request or application an affidavit or certificate executed in good faithby its counsel or a bank officer, stating the rate of exchange used and how itwas obtained and setting forth the calculation and the amount of United Statesdollars that would satisfy the judgment on the date of the affidavit orcertificate by applying that rate of exchange. Affected court officials shallincur no liability, after a filing of the affidavit or certificate, for actingas if the judgment were in the amount of United States dollars stated in theaffidavit or certificate. The computation contained in the affidavit orcertificate shall remain in effect for 90 days following the filing of theaffidavit or certificate and may be recomputed before the expiration of 90 daysby filing additional affidavits or certificates. Recomputation shall not affectany payment obtained before the filing of the recomputation.
(j) When a payment ismade to a clerk's office pursuant to G.S. 1‑239, the clerk may determinethe spot rate of exchange on the conversion date on the basis of informationreceived in good faith from any bank officer or other reliable source and shallincur no liability to any person for crediting a payment toward a judgment, orfor marking a judgment satisfied in full, on the basis of the rate sodetermined. (1995, c. 213, s. 1.)
