D.C. Code § 15-911

Current through codified legislation effective September 18, 2024
Section 15-911 - Effect of currency revalorization
(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) of this section 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.

D.C. Code § 15-911

Feb. 10, 1996, D.C. Law 11-85, § 2, 42 DCR 6791.

Uniform Law: This section is based upon § 12 of the Uniform Foreign-Money Claims Act.