For the purpose of determining under s. 19.44 (1), Stats., whether securities are valued at $5,000 or more:

1. (1) The value of securities listed on a stock exchange is the closing price on the exchange.
2. (2) The value of securities not listed on a stock exchange but traded in the over-the-counter market is the average of the bid and asked price.

3. (3) The value of securities for which no market information is readily available is:

   1. (a) For common stock and equivalent securities, the issuer’s net worth divided by the number of outstanding shares multiplied by the number of shares held.
   2. (b) For preferred stock, the redemption price or, if not redeemable, the stated value.
   3. (c) For debt securities, the unpaid balance.

History

History: Cr. Register, June, 1976, No. 246, eff. 7-1-76; am. (1) (intro.), Register, October, 1978, No. 274, eff. 11-1-78; renum. (1) (intro.) and (a) to (c) to be (intro.) and (1) to (3) and am., r. (1) (d) and (e), Register, April, 1985, No. 352, eff. 5-1-85; correction made under s. 13.93 (2m) (b) 1., Stats, Register, October, 1999, No. 526.