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)
1989, c. 316, §2 (NEW).
Data for this page extracted on 10/16/2012 08:29:52.
The Revisor's Office cannot provide legal advice or
interpretation of Maine law to the public. If you need legal
advice, please consult
a qualified attorney.