Ohio § 2337.01

§ 2337.01.

As used in sections 2337.01 to 2337.14 of the Revised Code : (A) “ 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. (B) “ Bank-offered spot rate ” means the spot rate of exchange at which a bank will sell foreign money at a spot

rate. (C) “ Conversion date ” means the banking day next preceding the date on which money, in accordance with sections 2337.01 to 2337.15 of the Revised Code , is: (1) Paid to a claimant in an action or distribution proceeding; (2) Paid to the official designated by law to enforce a judgment or award on behalf of

a claimant;  or (3) Used to recoup, set-off, or counterclaim in different moneys in an action or distribution

proceeding. (D) “ 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 or other entity, and the distribution of an estate, trust, or other

fund. (E) “ Foreign money ” means money other than money of the United States. (F) “ 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. (G) “ 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. (H) “ Money of the claim ” means the money determined as proper pursuant to section 2337.04 of the Revised Code . (I) “ Person ” means an individual, a corporation, government or governmental subdivision or agency,

business trust, estate, trust, joint venture, partnership, association, two or more

persons having a joint or common interest, or any other legal or commercial entity. (J) “ Rate of exchange ” means the rate at which money of one country may be converted into money of another

country in a free financial market convenient to or reasonably usable by a person

obligated to pay or to state a rate of conversion.  If separate rates of exchange apply to different kinds of transactions, the term

means the rate applicable to the particular transaction giving rise to the foreign-money

claim. (K) “ Spot rate ” means the rate of exchange at which foreign money is sold by a bank or other dealer

in foreign exchange for immediate or next day availability or for settlement by immediate

payment in cash or equivalent, by charge to an account, or by an agreed delayed settlement

not exceeding two days. (L) “ State ” has the same meaning as in section 1.59 of the Revised Code .