Nevada Revised Statutes 78.424 – ‘Market value’ defined
‘Market value,’ when used in reference to the shares or property of any resident domestic corporation, means:
Terms Used In Nevada Revised Statutes 78.424
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- 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.
- Securities Exchange Act: means the Act of Congress known as the Securities Exchange Act of 1934, as amended, Nevada Revised Statutes 78.010
1. In the case of shares, the highest closing sale price of a share during the 30 calendar days immediately preceding the date in question on the principal United States securities exchange registered under the Securities Exchange Act on which the shares are listed, or, if the shares are not listed on any such exchange, the fair market value on the date in question of a share as determined by the board of directors of the resident domestic corporation in good faith.
2. In the case of property other than cash or shares, the fair market value of the property on the date in question as determined by the board of directors of the resident domestic corporation in good faith.