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2018 Code of Alabama
Title 7 - COMMERCIAL CODE.
Article 3 - NEGOTIABLE INSTRUMENTS.
Part 1 - General Provisions and Definitions.
Section 7-3-107 - Instrument payable in foreign money.
Universal Citation: AL Code § 7-3-107 (2018)
Section 7-3-107Instrument payable in foreign money.
Unless the instrument otherwise provides, an instrument that states the amount payable in foreign money may be paid in the foreign money or in an equivalent amount in dollars calculated by using the current bank-offered spot rate at the place of payment for the purchase of dollars on the day on which the instrument is paid.
(Acts 1965, No. 549, p. 811; repealed by Acts 1995, No. 95-668, p. 1381, §1; added by Acts 1995, No. 95-668, p. 1381, §1.)
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