| (1) |
This part applies only to a foreign-money claim in an action or distribution proceeding. |
Terms Used In Utah Code 78B-5-403
- Action: means a judicial proceeding or arbitration in which a money payment may be awarded or enforced in respect of a foreign-money claim. See Utah Code 78B-5-402
- Distribution proceeding: means a judicial or nonjudicial proceeding for an accounting, an assignment for the benefit of creditors, a foreclosure, for the liquidation or rehabilitation of a corporation or other entity, for the distribution of an estate, trust, or other fund in or against which a foreign-money claim is asserted. See Utah Code 78B-5-402
- 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 Utah Code 78B-5-402
- State: means a state, territory, or possession of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or the United States Virgin Islands. See Utah Code 78B-5-402
| (2) |
This part applies to foreign-money issues notwithstanding the law applicable under the conflict of laws rules of this state to other issues in the action or distribution proceeding. |
Renumbered and Amended by Chapter 3, 2008 General Session
