Colorado § 13-62.1-101 Definitions

Colorado Statutes

§ 13-62.1-101 — Definitions

Colorado § 13-62.1-101

Title 13Courts

Art.Uniform Foreign-Money Claims Act

This text of Colorado § 13-62.1-101 (Definitions) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 13-62.1-101 (2026).

Text

In this article:

(1)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.

(2)Bank-offered spot rate means the spot rate of exchange at which a bank will sell foreign money at a spot rate.

(3)Conversion date means the banking day next preceding the date on which money, in accordance with this article, is:

(a)Paid to a claimant in an action or distribution proceeding;

(b)Paid to the official designated by law to enforce a judgment or award on behalf of a claimant; or

(c)Used to recoup, set-off, or counterclaim in different moneys in an action or distribution proceeding.

(4)Distribution proceeding means a judicial or nonjudicial proceeding for the distribution of a fund in which one o

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In this article:

(1) 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.

(2) Bank-offered spot rate means the spot rate of exchange at which a
bank will sell foreign money at a spot rate.

(3) Conversion date means the banking day next preceding the date on
which money, in accordance with this article, is:

(a) Paid to a claimant in an action or distribution proceeding;

(b) Paid to the official designated by law to enforce a judgment or award on
behalf of a claimant; or

(c) Used to recoup, set-off, or counterclaim in different moneys in an action
or distribution proceeding.

(4) 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.

(5) Foreign money means money other than money of the United States of
America.

(6) 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.

(7) 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.

(8) Money of the claim means the money determined as proper pursuant to
section 13-62.1-104.

(9) 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.

(10) 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.

(11) 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.

(12) 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.