State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_53 > GS_53-298

§53‑298.  References to ECU in contracts.

(a)        References to theECU in a contract, security, or other instrument that also refers in substanceto the definition of the ECU as set forth in G.S. 53‑295 shall bereplaced by references to the euro at a rate of one euro to one ECU.

(b)        References to theECU in a contract, security, or instrument without a definition as set forth inG.S. 53‑295 shall be presumed, rebuttable by proof of the contraryintention of the parties, to be references to the currency basket that is fromtime to time used as the unit of account of the European community. (1999‑312,s. 1.)