(a) Except as provided in section 50a-63, this chapter applies only to a foreign-money claim in an action or distribution proceeding.

Terms Used In Connecticut General Statutes 50a-52

  • Action: means a judicial or arbitration proceeding in which an order or award for a money payment may be tendered or enforced. See Connecticut General Statutes 50a-51
  • 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. See Connecticut General Statutes 50a-51
  • Foreign money: means money other than money of the United States of America. See Connecticut General Statutes 50a-51
  • 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. See Connecticut General Statutes 50a-51
  • 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. See Connecticut General Statutes 50a-51

(b) This chapter applies to foreign-money issues notwithstanding the law applicable under the conflict of laws rules of this state to other issues in an action or distribution proceeding.