The director or his representative shall appraise or have appraised all tidelands that may be sold. The appraisal shall be the fair market value thereof, exclusive of any value occurring from improvements or development, such as fill material, buildings or structures thereon, by such occupant or his successor in interest or reflecting equities of the occupant.

(Eff. 7/20/60, Register 1; am 6/23/62, Register 5)

Authority: AS 38.05.020, AS 38.05.820