N.M. Admin. Code § 8.50.117.9

Current through Register Vol. 35, No. 21, November 5, 2024

Section 8.50.117.9 - FOREIGN CURRENCY CONVERSION

Some interstate cases handled by the IV-D agency are received from foreign nations or are initiated to foreign nations.

A. Responding international cases:

(1) Establishment of an obligation for support: If the IV-D agency is asked to establish an order for support by the child support agency of a foreign nation, the IV-D agency shall:

(a) file the action in the appropriate state district court;

(b) convert the custodial party's income into United States dollars, provided that it is appropriate to utilize the custodial party's income in a calculation of support under the laws of New Mexico;

(c) utilize the non-custodial parent's actual or imputed income, in United States dollars;

(d) obtain a support order to be paid in United States dollars; and

(e) all payments collected by the IV-D agency's SDU shall be remitted to the child support agency in the foreign nation in United States dollars.

(2) Enforcement of a foreign nation's order for support: If the IV-D agency is asked to enforce an existing order for support from a foreign nation, the IV-D agency shall:

(a) register the order for support in the appropriate state district court;

(b) at the time of registration of the foreign support order, the amount of the obligation registered for enforcement shall be in United States dollars; if the initiating jurisdiction has not already converted the monetary amount into United States dollars, the IV-D agency shall convert the obligation from the currency of the foreign nation into United States dollars; the currency exchange rate used for the conversion of the foreign currency into United States dollars shall be obtained by the IV-D agency from the internet websites of respected financial journals or news organizations; the IV-D agency shall, at the time of the conversion, print out and retain in its file a copy of the dated exchange rate information relied upon by the IV-D agency in calculating the correct amount of the obligation to be enforced in United States dollars.

B. Initiating international cases: In all cases initiated by the IV-D agency to the child support agency of a foreign nation, regardless of whether for the establishment or the enforcement of an obligation of support, the IV-D agency shall ensure all financial records or information sent by the IV-D agency reflect United States dollars.

N.M. Admin. Code § 8.50.117.9

8.50.117.9 NMAC - N, 12/30/10