As used in this chapter, unless the context otherwise requires: 1. "Action" means a judicial proceeding or arbitration in which a payment in money may be awarded or enforced with respect to a foreign-money claim. 2. "Bank-offered spot rate" means the spot rate of exchange at which a bank will sell foreign money at a spot rate. 3. "Conversion date" means the banking day before the date on which money, in accordance with this chapter, is: a. Paid to a claimant in an action or distribution proceeding; b. Paid to the official designated by law to enforce a judgment or award on behalf of a claimant; or c. Used to recoup, set off, or counterclaim in different moneys in an action or distribution proceeding. 4. "Distribution proceeding" means a judicial or nonjudicial proceeding for the distribution of a fund in which one or more foreign -money claims is asserted and includes an accounting, an assignment for the benefit of creditors, a foreclosure, the liquidation or rehabilitation of a corporation, limited liability company, or other entity, and the distribution of an estate, trust, or other fund. 5. "Foreign money" means money other than money of the United States. 6. "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. 7. "Money" means a medium of exchange for the payment of obligations or a store of value authorized or adopted by a government or by intergovernmental agreement. 8. "Money of the claim" means the money determined as proper pursuant to section
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