KANSAS OFFICE of
  REVISOR of STATUTES

  

Home >> Statutes >> Back


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

50-1305. Methods of establishing fair market value. (a) A successor corporation may establish the fair market value of total gross assets for the purpose of the limitations under K.S.A. 2024 Supp. 50-1304, and amendments thereto, through any method reasonable under the circumstances, including, but not limited to:

(1) By reference to the going concern value of the assets or to the purchase price attributable to or paid for the assets in an arms-length transaction; or

(2) in the absence of other readily available information from which the fair market value can be determined, by reference to the value of the assets recorded on a balance sheet.

(b) Total gross assets include intangible assets.

(c) To the extent total gross assets include any liability insurance that was issued to the transferor whose assets are being valued for purposes of this section, the applicability, terms, conditions and limits of such insurance shall not be affected by this section, nor shall this section otherwise affect the rights and obligations of an insurer, transferor or successor under any insurance contract or any related agreements, including, without limitation, preenactment settlements resolving coverage-related disputes, and the rights of an insurer to seek payment for applicable deductibles, retrospective premiums or self-insured retentions or to seek contribution from a successor for uninsured or self-insured periods or periods where insurance is uncollectible or otherwise unavailable. Without limiting the foregoing, to the extent total gross assets include any such liability insurance, a settlement of a dispute concerning any such liability insurance coverage entered into by a transferor or successor with the insurers of the transferor before July 1, 2014, shall be determinative of the total coverage of such liability insurance to be included in the calculation of the transferor's total gross assets.

History: L. 2014, ch. 45, ยง 5; July 1.


 | Next


LEGISLATIVE COORDINATING COUNCIL
  12/02/2024 Meeting Notice Agenda
  11/14/2024 Meeting Notice Agenda
  10/23/2024 Meeting Notice Agenda
  09/09/2024 Meeting Notice Agenda
  08/21/2024 Meeting Notice Agenda

  LCC Policies

REVISOR OF STATUTES
  Chapter 72 Statute Transfer List
  Kansas School Equity & Enhancement Act
  Gannon v. State
  A Summary of Special Sessions in Kansas
  Bill Brief for Senate Bill No. 1
  Bill Brief for House Bill No. 2001
  2024 New, Amended & Repealed Statutes By Bill
  2024 New, Amended & Repealed Statutes By KSA
  2023 New, Amended & Repealed Statutes By Bill
  2023 New, Amended & Repealed Statutes By KSA
USEFUL LINKS
Session Laws

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