{"data":{"id":"us-nm/39-4c-2","jurisdiction":"us-nm","citation":"39-4C-2","heading":"Definitions.","body":"As used in the Uniform Foreign-Money Claims Act:\nA. \"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;\nB. \"bank-offered spot rate\" means the spot rate of exchange at which a bank will sell foreign money at a spot rate;\nC. \"conversion date\" means the banking day next preceding the date on which money, in accordance with the Uniform Foreign-Money Claims Act, is:\n(1) paid to a claimant in an action or distribution proceeding;\n(2) paid to the official designated by law to enforce a judgment or award on behalf of a claimant; or\n(3) used to recoup, set-off or counterclaim in different moneys in an action or distribution proceeding;\nD. \"distribution proceeding\" means a judicial or nonjudicial proceeding for the distribution of a fund in which one or more foreign-money claims is asserted and includes an accounting, an assignment for the benefit of creditors, a foreclosure, the liquidation or rehabilitation of a corporation or other entity and the distribution of an estate, trust or other fund;\nE. \"foreign money\" means money other than money of the United States of America;\nF. \"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;\nG. \"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;\nH. \"money of the claim\" means the money determined as proper pursuant to Section 5 [39-4C-5 NMSA 1978] of the Uniform Foreign-Money Claims Act;\nI. \"person\" means an individual, a corporation, government or governmental subdivision or agency, business trust, estate, trust, joint venture, partnership, association, two or more persons having a joint or common interest or any other legal or commercial entity;\nJ. \"rate of exchange\" means the rate at which money of one country may be converted into money of another country in a free financial market convenient to or reasonably usable by a person obligated to pay or to state a rate of conversion; if separate rates of exchange apply to different kinds of transactions, the term means the rate applicable to the particular transaction giving rise to the foreign-money claim;\nK. \"spot rate\" means the rate of exchange at which foreign money is sold by a bank or other dealer in foreign exchange for immediate or next-day availability or for settlement by immediate payment in cash or equivalent, by charge to an account or by an agreed delayed settlement not exceeding two days; and\nL. \"state\" means a state of the United States, the District of Columbia, the commonwealth of Puerto Rico or a territory or insular possession subject to the jurisdiction of the United States.","path":["Chapter 39 - Judgments, Costs, Appeals","ARTICLE 4C Foreign-Money Claims"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18539/index.do","current_through":"2024-10-16","vintage":"","retrieved_at":"2026-09-03T15:02:19Z","sha256":"2b5cadc6b3d94fc9f836850da199dccb8f5efcab224df1a1c137b864d0605ff2","source_id":"us-nm","stale":false,"prev":"us-nm/39-4c-1","next":"us-nm/39-4c-3"},"notice":"GroundRules: Original legal text. Not legal advice."}