Rhode Island General Laws > Chapter 27-11.2 – Asset Valuation Law
Current as of: 2024 | Check for updates
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Other versions
| § 27-11.2-1 | Valuation of bonds |
| § 27-11.2-2 | Valuation of other securities |
Terms Used In Rhode Island General Laws > Chapter 27-11.2 - Asset Valuation Law
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.