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Virginia Law

Code of Virginia

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Code of Virginia
Title 8.01. Civil Remedies and Procedure
Chapter 17.3. Uniform Foreign-Money Claims Act
10/12/2024

§ 8.01-465.25. Effect of substitution of currency by issuing authority.

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. If such substitution occurs after a judgment or award is entered on a foreign-money claim, the court or arbitrator shall amend the judgment or award by a like conversion of the former money.

1991, c. 24.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.