Michigan Laws 324.2155 – “Damages” defined
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Terms Used In Michigan Laws 324.2155
- 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.
As used in this subpart, “damages” means the fair market value on the stump or at the mill, whichever is greater of a forest product cut or removed, or the fair and actual value of any other property removed or damaged in trespass, plus any other damages caused before, during, or after the cutting or removal.