As used in this chapter, "fair market value" means:

1. (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. (2) the fair market value determined by the bureau upon request.

   [Pre-1991 Recodification Citation: 9-1-3.6-1(i) part.]

As added by P.L.2-1991, SEC.10. Amended by P.L.198-2016, SEC.381.