Connecticut § 50a-51 Definitions.

Connecticut Statutes

§ 50a-51 — Definitions.

Connecticut § 50a-51

Title 50aInternational Law

Ch. 861aUniform Foreign-Money Claims Act

This text of Connecticut § 50a-51 (Definitions.) is published on Counsel Stack Legal Research, covering Connecticut primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Conn. Gen. Stat. § 50a-51 (2026).

Text

As used in this chapter:

(1)“Action” means a judicial or arbitration proceeding in which an order or award for a money payment may be tendered or enforced;

(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;

(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

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As used in this chapter: (1) “Action” means a judicial or arbitration proceeding in which an order or award for a money payment may be tendered or enforced; (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; (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; (4) “Foreign money” means money other than money of the United States of America; (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; (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; (7) “Money of the claim” means the money determined as proper by section 50a-54 ; (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; (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; (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.