{"data":{"id":"us-ok/okla.-stat.-tit.-12-12-729.2","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 12, § 12-729.2","heading":"Definitions","body":"As used in this act:\n\n1. \"Action\" means a judicial proceeding or arbitration in which\n\na payment in money may be awarded or enforced with respect to a\n\nforeign-money claim;\n\n2. \"Bank-offered spot rate\" means the spot rate of exchange at\n\nwhich a bank will sell foreign money at a spot rate;\n\n3. \"Conversion date\" means the banking day next preceding the\n\ndate on which money, in accordance with this act, is:\n\na. paid to a claimant in an action or distribution\n\nproceeding,\n\nb. paid to the official designated by law to enforce a\n\njudgment or award on behalf of a claimant, or\n\nc. used to recoup, set-off or counterclaim in different\n\nmoneys in an action or distribution proceeding;\n\n4. \"Distribution proceeding\" means a judicial or nonjudicial\n\nproceeding for the distribution of a fund in which one or more\n\nforeign-money claims is asserted and includes, but is not limited\n\nto, an accounting, an assignment for the benefit of creditors, a\n\nforeclosure, the liquidation or rehabilitation of a corporation or\n\nother entity, and the distribution of an estate, trust or other\n\nfund;\n\n5. \"Foreign money\" means money other than money of the United\n\nStates of America;\n\n6. \"Foreign-money claim\" means a claim upon an obligation to\n\npay, or a claim for recovery of a loss, expressed in or measured by\n\na foreign money;\n\n7. \"Money\" means a medium of exchange for the payment of\n\nobligations or a store of value authorized or adopted by a\n\ngovernment or by intergovernmental agreement;\n\n8. \"Money of the claim\" means the money determined as proper\n\npursuant to Section 5 of this act;\n\n9. \"Person\" means an individual, a corporation, government or\n\ngovernmental subdivision or agency, business trust, estate, trust,\n\njoint venture, partnership, association, limited liability company,\n\ntwo or more persons having a joint or common interest or any other\n\nlegal or commercial entity;\n\n10. \"Rate of exchange\" means the rate at which money of one\n\ncountry may be converted into money of another country in a free\n\nfinancial market convenient to or reasonably usable by a person\n\nobligated to pay or to state a rate of conversion. If separate\n\nrates of exchange apply to different kinds of transactions, the term\n\nmeans the rate applicable to the particular transaction giving rise\n\nto the foreign-money claim;\n\n11. \"Spot rate\" means the rate of exchange at which foreign\n\nmoney is sold by a bank or other dealer in foreign exchange for\n\nimmediate or next day availability or for settlement by immediate\n\npayment in cash or equivalent, by charge to an account or by an\n\nagreed delayed settlement not exceeding two days; and\n\n12. \"State\" means a state of the United States, the District of\n\nColumbia, the Commonwealth of Puerto Rico or a territory or insular\n\npossession subject to the jurisdiction of the United States.","path":["OK Code","Title 12"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os12.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"66549f4404076b7dcc1413dd2d89e180e01aa1fd4ef3bf31acf6c1fe39db091b","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-12-12-729.16","next":"us-ok/okla.-stat.-tit.-12-12-729.3"},"notice":"GroundRules: Original legal text. Not legal advice."}