Nev. Rev. Stat. § 487.730

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1

Section 487.730 - "Fair market value" defined

"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.

NRS 487.730

Added to NRS by 2003, 1909