Section 96
SEC. 96. The appraisal or reappraisal, valuation or revaluation of any mine, mining claim or claims with or without improvements thereon, patented, leased or otherwise, for the purpose of raising capital for the formation, or organization of association, partnership or corporation or for promotion work, or for issuing shares of stock, or for determining the present net value of the mines, shall be made by the Director of the Bureau of Mines or his duly authorized representative, and no such mine, mining claim or claims, with or without improvement thereon, patented, leased or otherwise, shall be accepted as asset or basis of any asset in any formation or organization of association, partnership, or corporation for registration or incorporation without the value thereof having been first appraised or determined by the Director of the Bureau of Mines as herein provided.