KANSAS OFFICE of
  REVISOR of STATUTES

  

Home >> Statutes >> Back


Click to open printable format in new window.Printable Format
 | Next

50-1306. Adjustment of the fair market value of total gross assets. (a) Except as provided in subsections (b), (c) and (d), the fair market value of total gross assets at the time of the merger or consolidation shall increase annually at a rate equal to the sum of:

(1) The prime rate as listed in the first edition of the wall street journal published for each calendar year since the merger or consolidation, unless the prime rate is not published in that edition of the wall street journal, in which case any reasonable determination of the prime rate on the first day of the year may be used; and

(2) one percent.

(b) The rate described in subsection (a) shall not be compounded.

(c) The adjustment of the fair market value of total gross assets shall continue as provided in subsection (a) until the date the adjusted value is first exceeded by the cumulative amounts of successor asbestos-related liabilities paid or committed to be paid by or on behalf of the successor corporation or a predecessor or by or on behalf of a transferor after the time of the merger or consolidation for which the fair market value of total gross assets is determined.

(d) No adjustment of the fair market value of total gross assets shall be applied to any liability insurance that may be included in the definition of total gross assets by subsection (c) of K.S.A. 2019 Supp. 50-1305, and amendments thereto.

History: L. 2014, ch. 45, ยง 6; July 1.


 | Next

2020 SPECIAL SESSION
Information for Special Session 2020

LEGISLATIVE COORDINATING COUNCIL
3/24/2020 Meeting Notice Agenda
3/27/2020 Meeting Notice Agenda
3/29/2020 Meeting Notice Agenda
4/2/2020 Meeting Notice Agenda
4/8/2020 Meeting Notice Agenda
4/13/2020 Meeting Notice - Cancelled
4/22/2020 Meeting Notice Agenda
5/6/2020 Meeting Notice Agenda
3/29/2020 Covid-19 Map
LCC Policies

REVISOR OF STATUTES
2020 Interim Committee Assignments
2019
2020
Chapter 72 Statute Transfer List
Kansas School Equity & Enhancement Act
Gannon v. State
General Information, Legal Analysis & Research
2018 Amended & Repealed Statutes
2017 Amended & Repealed Statutes
2016 Amended & Repealed Statutes
2015 Amended & Repealed Statutes
2014 Amended & Repealed Statutes
2013 Amended & Repealed Statutes

USEFUL LINKS
Session Laws

 OTHER LEGISLATIVE SITES
Kansas Legislature
Administrative Services
Division of Post Audit
Research Department