§ 554.3107 — Instrument payable in foreign money

Iowa § 554.3107

• Jurisdiction: Iowa
• Title XIII: COMMERCE
• Ch. 554: UNIFORM COMMERCIAL CODE

Text

Unless the instrument otherwise provides, an instrument that states the amount payable
in foreign money may be paid in the foreign money or in an equivalent amount in dollars
calculatedbyusingthecurrentbank-offeredspotrateattheplaceofpaymentforthepurchase
of dollars on the day on which the instrument is paid.