NRS487.730. “Fair market value” defined.

Latest version.

“Fair market value” means the retail value of a motor vehicle that is established by:

      1. An objective motor vehicle appraisal based upon local market resources, including, without limitation, automobile dealers and classified advertisements of newspapers;

      2. An independent appraisal service;

      3. A current issue of a nationally recognized guide used by financial institutions in this State for the valuation of used motor vehicles; or

      4. A computer-based service commonly used by the insurance industry for the valuation of used motor vehicles.

(Added to NRS by 2003, 1909)

                    
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