Nevada Revised Statutes 91.050 – ‘Commodity’ defined
1. ’Commodity’ means, except as otherwise provided in subsection 2 or specified by the Administrator by regulation or order:
Terms Used In Nevada Revised Statutes 91.050
- 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.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
(a) Any agricultural, grain or livestock product or by-product;
(b) Any metal or mineral, including a precious metal;
(c) Any gem or gemstone whether characterized as precious, semiprecious or otherwise;
(d) Any fuel, whether liquid, gaseous or otherwise;
(e) Any foreign currency; and
(f) All other goods, articles, products or items of any kind.
2. ’Commodity’ does not include:
(a) A numismatic coin whose fair market value is at least 15 percent higher than the value of the metal it contains;
(b) Real property or any timber, agricultural or livestock product grown or raised on real property and offered or sold by the owner or lessee of such real property; or
(c) Any work of art offered or sold by art dealers, at public auction or offered or sold through a private sale by the owner thereof.