[§658B-12] Effect of currency revalorizations.
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/hi/658b-12A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
[§658B-12] Effect of currency revalorizations.
(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, as the case may be, shall have jurisdiction to, and shall, amend the judgment or award by a like conversion of the former money. [L 1990, c 50, pt of §1]