Fair market value defined
Sec. 2. As used in this chapter, "fair market value" means:
(1) the average trade-in value found in the National Automobile
Dealers Association (NADA) Official Used Car Guide, vehicle
valuations determined by CCC Information Services, Inc.
(CCC), or valuations determined by such other authorities as
are approved by the bureau; or
(2) the fair market value determined by the bureau under
IC 9-22-3-3.
As added by P.L.2-1991, SEC.10.
Last modified: May 27, 2006