CFR > Title 30 > Chapter II > Subchapter B > Part 250 > Subpart N > Federal Oil and Gas Royalty Management Act Civil Penalties Definitions
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| § 250.1450 | What definitions apply to this subpart? |
Terms Used In CFR > Title 30 > Chapter II > Subchapter B > Part 250 > Subpart N > Federal Oil and Gas Royalty Management Act Civil Penalties Definitions
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.