§ 5/12-638 Conversions of foreign money in distribution proceeding

Codes > Illinois Compiled Statutes > Chapter 735 > Act 5 : Article XII > Part 6 : 5/12-638 Conversions

§ 12-638. Conversions of foreign money in distribution proceeding.

    The rate of exchange prevailing at or near the close of business on the day the distribution proceeding is initiated governs all exchanges of foreign money in a distribution proceeding. A foreign-money claimant in a distribution proceeding shall assert its claim in the named foreign money and show the amount of the United States dollars resulting from a conversion as of the date the proceeding was initiated.