[§486K-9]  Valuation of property. 
Whenever the value of property is to be determined under sections 486K-4 and
486K-5, the following shall apply:



(1)  Value means the market value of the property.



(2)  Whether or not they have been issued or
delivered, certain written instruments, not including those having a readily
ascertained market value, shall be evaluated as follows:



(A)  The value of an instrument constituting an
evidence of debt, such as a check, traveler's check, draft, or promissory note,
shall be deemed the amount due or collectible thereon or thereby, that figure
ordinarily being the face amount of the indebtedness less any portion thereof
which has been satisfied;



(B)  The value of any other instrument that
creates, releases, discharges, or otherwise affects any valuable legal right,
privilege, or obligation shall be deemed the greatest amount of economic loss
which the owner of the instrument might reasonably suffer by virtue of the loss
of the instrument.



(3)  When property has value but that value cannot be
ascertained pursuant to the standards set forth above, the value shall be
deemed to be an amount not exceeding $50. [L 1978, c 234, pt of §3]