Okla. Stat. tit. 76, § 76-107
This is the official text of Okla. Stat. tit. 76, § 76-107, part of Oklahoma’s Stat. tit. 76, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 76,." Browse the sections below, each linked to its official government source.
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Adjustment
Official statutory text
ADJUSTMENT. A. Except as provided in subsections B, C and D of
this section, the fair market value of total gross assets at the
time of a merger or consolidation increases 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 (1%).
B. The rate provided for in subsection A of this section shall
not be compounded.
C. The adjustment of fair market value of total gross assets
continues as provided under subsection A of this section until the
date the adjusted value is first exceeded by the cumulative amounts
Oklahoma Statutes - Title 76. Torts Page 73
of successor asbestos-related liabilities paid or committed to be
paid by or on behalf of the innocent 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 Section 6 of
this act.
this section, the fair market value of total gross assets at the
time of a merger or consolidation increases 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 (1%).
B. The rate provided for in subsection A of this section shall
not be compounded.
C. The adjustment of fair market value of total gross assets
continues as provided under subsection A of this section until the
date the adjusted value is first exceeded by the cumulative amounts
Oklahoma Statutes - Title 76. Torts Page 73
of successor asbestos-related liabilities paid or committed to be
paid by or on behalf of the innocent 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 Section 6 of
this act.
Status: in_force · Read it on the official government site
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