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Terms Used In New Jersey Statutes 23:2A-13.2

  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
2. As used in this act:

“Ivory” means any tooth or tusk composed of ivory from any animal, including, but not limited to, an elephant, hippopotamus, mammoth, narwhal, walrus, or whale, or any piece thereof, whether raw ivory or worked ivory, or made into, or part of, an ivory product.

“Ivory product” means any item that contains, or that is wholly or partially made from, any ivory.

“Raw ivory” means any ivory the surface of which, polished or unpolished, is unaltered or minimally changed by carving.

“Rhinoceros horn” means the horn, or any piece thereof, of any species of rhinoceros.

“Rhinoceros horn product” means any item that contains, or is wholly or partially made from, any rhinoceros horn.

“Total value of the ivory, ivory products, rhinoceros horn, and rhinoceros horn products” means the fair market value of the ivory, ivory products, rhinoceros horn, and rhinoceros horn products, or the actual price paid for the ivory, ivory products, rhinoceros horn, and rhinoceros products, whichever is greater.

“Worked ivory” means ivory that has been embellished, carved, marked, or otherwise altered so that it can no longer be considered raw ivory.

L.2014, c.22, s.2.