25-21,288 Fair market value of total gross assets; adjustment. - Nebraska Statutes

25-21,288. Fair market value of total grossassets; adjustment.(1)Except as provided in subsections (2) through (4) of this section, the fairmarket value of total gross assets at the time of the merger or consolidationshall increase annually at a rate equal to the sum of:(a) The prime rate aslisted in the first edition of the Wall Street Journal published for eachcalendar year since the merger or consolidation, unless the prime rate isnot published in that edition of the Wall Street Journal, in which case anyreasonable determination of the prime rate on the first day of the year maybe used; and(b)One percent.(2)The rate found in subsection (1) of this section shall not be compounded.(3) The adjustment ofthe fair market value of total gross assets shall continue as provided insubsection (1) of this section until the date the adjusted value is firstexceeded by the cumulative amounts of successor asbestos-related liabilitiespaid or committed to be paid by or on behalf of the successor corporationor a predecessor or by or on behalf of a transferor after the time of themerger or consolidation for which the fair market value of total gross assetsis being determined.(4)No adjustment of the fair market value of total gross assets shall be appliedto any liability insurance that is included in total gross assets under subsection(3) of section 25-21,287. SourceLaws 2010, LB763, § 6.Effective Date: July 15, 2010