California Codes, Code of Civil Procedure - CCP, Part 2 — Of Civil Actions, Title 8.5 — Uniform Foreign-money Claims Act, Section 676.11

(a) Computations under this section are for the limited purposes of the section and do not affect computation of the United States dollar equivalent of the money of the judgment for the purpose of payment.

(b) For the limited purpose of facilitating the enforcement of provisional remedies in an action, the value in United States dollars of assets to be seized or restrained pursuant to a writ of attachment, garnishment, execution, or other legal process, the amount of United States dollars at issue for assessing costs, or the amount of United States dollars involved for a surety bond or other court-required undertaking, shall be ascertained as provided in subdivisions (c) and (d).

(c) A party seeking process, costs, bond, or other undertaking under subdivision (b) shall compute in United States dollars the amount of the foreign money claimed from a bank-offered spot rate prevailing at or near the close of business on the banking day next preceding the filing of a request or application for the issuance of process or for the determination of costs, or an application for a bond or other court-required undertaking.

(d) A party seeking the process, costs, bond, or other undertaking under subdivision (b) shall file with each request or application an affidavit or certificate executed in good faith by its counsel or a bank officer, stating the market quotation used and how it was obtained, and setting forth the calculation. Affected court officials incur no liability, after a filing of the affidavit or certificate, for acting as if the judgment were in the amount of United States dollars stated in the affidavit or certificate.

Notes

Sets United States dollar calculations for specified provisional remedies, costs, and undertakings using the bank-offered spot rate near the prior banking day’s close, with a good-faith affidavit or certificate stating the quotation, source, and calculation. Those computations do not control the payment equivalent, and affected court officials incur no liability for acting on the stated dollar amount after filing.

Use as reference

Lexinter.net | California Code, Code of Civil Procedure - CCP § 676.11 | https://laws.lexinter.net/codes/california/code-of-civil-procedure/part-2/title-8-5/section-676-11

Disclaimer: Codes available on Lexinter may not reflect the most current laws in your jurisdiction. We make no warranties regarding the accuracy, completeness, or adequacy of the information provided. Always verify the status of any code with your state legislature or official government sources before relying on it for legal purposes.