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stated value n
: the value assigned in a corporation's books to stock and esp. to no-par value stock NOTE: Stated value is sometimes based on the actual amount received when stock is issued, but it can also be an arbitrarily low value. It has no relation to the market value of the stock.
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.