[§658B-1]  Definitions.  In this
chapter:



"Action" means a judicial proceeding
or arbitration in which a money payment may be awarded or enforced in respect
of a foreign-money claim.



"Conversion date" means the banking
day next before the date on which money is, in accordance with this chapter:



(1)  Paid to a judgment creditor;



(2)  Paid to the designated official enforcing a
judgment on behalf of the judgment creditor; or



(3)  Used to effect a recoupment or set-off of claims
in different moneys in an action.



"Distribution proceeding" means a
judicial or nonjudicial proceeding for an accounting, an assignment for the
benefit of creditors, a foreclosure, for the liquidation or rehabilitation of a
corporation or other entity, for the distribution of an estate, trust, or other
fund in or against which a foreign-money claim is asserted.



"Foreign money" means money other
[than] money of the United States of America.



"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.



"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.



"Money of the claim" means the money
determined as proper by section 658B-4.



"Party" means an individual, a
corporation, government or governmental subdivision or agency, business trust,
partnership or association of two or more persons having a joint or common
interest, or any other legal or commercial entity asserting or defending
against a foreign-money claim.



"Rate of exchange" means the rate at
which the money of one country may be converted into money of another country
in a free financial market convenient to or reasonably usable by the party
obliged to pay or to state a rate of conversion.  If separate exchange rates
apply to different kinds of transactions or events, the term means the rate
applicable to the particular transaction or event giving rise to the
foreign-money claim.



"Spot rate" means the rate of
exchange at which foreign money is sold by a bank or other dealer in foreign
exchange for settlement by immediate payment, by charge to an account, or by an
agreed delayed settlement not exceeding two days.  "Bank- offered spot rate"
means the rate of exchange at which a bank will issue its draft in the foreign
money or will cause credit to become available in the foreign money on a
next-day basis.



"State" means a state, territory, or
possession of the United States, the District of Columbia, the Commonwealth of
Puerto Rico, or the United States Virgin Islands. [L 1990, c 50, pt of §1]