There Is a Newer Version
of
the Maine Revised Statutes
2012 Maine Revised Statutes
TITLE 24-A: MAINE INSURANCE CODE
Chapter 41: PROPERTY INSURANCE CONTRACTS
24-A §3004-A. Actual cash value
Universal Citation:
24-A ME Rev Stat § 3004-A (2012 through 125th Legis)
Learn more
This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
Subchapter 1: STANDARD FIRE POLICY
§3004-A. Actual cash value
1. Actual cash value. "Actual cash value", as used in section 3002, means the replacement cost of an insured item of property at the time of loss, less the value of physical depreciation as to the item damaged. "Physical depreciation" means a value as determined according to standard business practices.
[ 1989, c. 316, §2 (NEW) .]
SECTION HISTORY
1989, c. 316, §2 (NEW).
Disclaimer: These codes may not be the most recent version. Maine may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
