Illinois § 12-642 Effect of currency revalorization

Illinois Statutes

§ 12-642 — Effect of currency revalorization

Illinois § 12-642

JurisdictionIllinois

TopicRIGHTS AND REMEDIES

Ch. 735CIVIL PROCEDURE

Act 735 ILCS 5/Code of Civil Procedure.

Art.Article XII - Judgments - Enforcement

This text of Illinois § 12-642 (Effect of currency revalorization) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

735 Ill. Comp. Stat. 12-642 (2026).

Text

(a)If, after an obligation is expressed or a loss is incurred in a foreign money, the country issuing or adopting that money substitutes a new money in place of that money, the obligation or the loss is treated as if expressed or incurred in the new money at the rate of conversion the issuing country establishes for the payment of like obligations or losses denominated in the former money.

(b)If substitution under subsection (a) occurs after a judgment or award is entered on a foreign-money claim, the court or arbitrator shall amend the judgment or award by a like conversion of the former money.

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(a) If, after an obligation is expressed or a loss is incurred in a foreign money, the country issuing or adopting that money substitutes a new money in place of that money, the obligation or the loss is treated as if expressed or incurred in the new money at the rate of conversion the issuing country establishes for the payment of like obligations or losses denominated in the former money. (b) If substitution under subsection (a) occurs after a judgment or award is entered on a foreign-money claim, the court or arbitrator shall amend the judgment or award by a like conversion of the former money.