Kentucky Statutes 355.3-107 – Instrument payable in foreign money
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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 calculated by using the current bank-offered spot rate at the place of payment for the purchase of dollars on the day on which the instrument is paid.
Effective: January 1, 1997
History: Repealed and reenacted 1996 Ky. Acts ch. 130, sec. 7, effective January 1,
1997. — Created 1958 Ky. Acts ch. 77, sec. 3-107, effective July 1, 1960.
Effective: January 1, 1997
Terms Used In Kentucky Statutes 355.3-107
- Foreign: when applied to a corporation, partnership, limited partnership, business trust, statutory trust, or limited liability company, includes all those incorporated or formed by authority of any other state. See Kentucky Statutes 446.010
History: Repealed and reenacted 1996 Ky. Acts ch. 130, sec. 7, effective January 1,
1997. — Created 1958 Ky. Acts ch. 77, sec. 3-107, effective July 1, 1960.