{"data":{"id":"us-ct/conn.-gen.-stat.-50a-51","jurisdiction":"us-ct","citation":"Conn. Gen. Stat. § 50a-51","heading":"Definitions.","body":"As used in this chapter:\n(1) “Action” means a judicial or arbitration proceeding in which an order or award for a money payment may be tendered or enforced;\n(2) “Conversion date” means, except as provided in section 50a-58, the banking day next before the date on which money or an award is, in accordance with this chapter; (i) paid to a judgment creditor, (ii) paid to the designated official enforcing a judgment on behalf of the judgment creditor or (iii) used to effect a set-off of claims in different moneys in an action;\n(3) “Distribution proceeding” means a judicial or nonjudicial proceeding for an accounting, an assignment for the benefit of creditors, a foreclosure, or for the distribution, liquidation, or rehabilitation of a corporation, other entity, an estate, trust, or other fund in or against which the share of a foreign-money claim is asserted;\n(4) “Foreign money” means money other than money of the United States of America;\n(5) “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;\n(6) “Money” means a medium of exchange for the payment of debts or other obligations, or a store of value authorized or adopted by a domestic or foreign government or by intergovernmental agreement;\n(7) “Money of the claim” means the money determined as proper by section 50a-54;\n(8) “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;\n(9) “Rate of exchange” means the rate at which the money of one country may be converted into another money in a free financial market convenient to or usable by the party to pay or to state a conversion. If separate exchange rates apply to different transactions or events, the term means the rate applicable to the particular transaction or event giving rise to the foreign-money claim;\n(10) “Spot rate” means the rate of exchange at which foreign money is sold by a bank or foreign-currency trader, 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 at which a bank will issue its draft in the foreign currency or will cause credit to become available on a next-day basis in the foreign money.","path":["TITLE 50a. INTERNATIONAL LAW","CHAPTER 861a. UNIFORM FOREIGN-MONEY CLAIMS ACT"],"source_url":"https://www.cga.ct.gov/current/pub/chap_861a.htm#sec_50a-51","current_through":"Revised to January 1, 2026 (2026 Supplement to the General Statutes of Connecticut, applied over the base revision of January 1, 2025)","vintage":"","retrieved_at":"2026-09-06T19:07:17Z","sha256":"27d236bc8e6e1a32a2b425322da9b22fc2d40f1783e1e76e35e05bb42ce9275b","source_id":"us-ct","stale":false,"prev":"us-ct/conn.-gen.-stat.-50a-50","next":"us-ct/conn.-gen.-stat.-50a-52"},"notice":"GroundRules: Original legal text. Not legal advice."}