20-9-41. Total gross assets defined--Determination of fair market value.
Any successor corporation may establish the fair market value of total gross assets for the purpose of the limitations under §§20-9-39 and 20-9-40 through any method reasonable under the circumstances, including:
(1)By reference to the going concern value of the assets or to the purchase price attributable to, or paid for, the assets in arms-length transactions; 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.
Total gross assets include intangible assets. 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 are not affected by this section, nor does this section otherwise affect the rights and obligations of an insurer, transferor, or successor under any insurance contract or any related agreements, including pre-enactment 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 successor with the insurers of the transferor before the date of enactment of §§20-9-36 to 20-9-43, inclusive, shall be determinative of the total coverage of such liability insurance to be included in the calculation of the transferor's total gross assets.
Source: SL 2010, ch 110, §6.
Structure South Dakota Codified Laws
Title 20 - Personal Rights and Obligations
Chapter 09 - Liability For Torts
Section 20-9-1 - Responsibility for injury by willful act or negligence--Contributory negligence.
Section 20-9-1.1 - Loss of chance doctrine abrogated.
Section 20-9-1.2 - Other rules and principles not affected.
Section 20-9-2 - Comparative negligence--Reduction of damages.
Section 20-9-3 - Licensed medical practitioners immune from liability for emergency care.
Section 20-9-4.1 - Immunity from liability for emergency care--Exception.
Section 20-9-4.3 - Definition of terms.
Section 20-9-4.4 - Civil immunity for emergency use or nonuse of AED.
Section 20-9-4.6 - AED trainer immunity.
Section 20-9-4.8 - Immunity inapplicable in event of negligence or misconduct.
Section 20-9-6 - Right to protection from bodily harm, insult, or injury to personal relations.
Section 20-9-6.1 - Claim of barratry.
Section 20-9-7 - Abduction, enticement and seduction forbidden by rights of personal relation.
Section 20-9-10.1 - State of the art defense in product liability actions.
Section 20-9-11.1 - Trespasser defined.
Section 20-9-12 - Definition of terms.
Section 20-9-18 - Doctrine of attractive nuisance not affected.
Section 20-9-19 - Definition of terms as to political subdivisions.
Section 20-9-22 - Limits of political subdivision's liability.
Section 20-9-23 - Effect of §§20-9-19 to 20-9-23 on attractive nuisance or other legal doctrines.
Section 20-9-24 - Definition of terms as to state.
Section 20-9-27 - Limits of state's liability.
Section 20-9-28 - Effect of §§20-9-24 to 20-9-28 on attractive nuisance or other legal doctrines.
Section 20-9-29 - Definitions.
Section 20-9-30 - Livestock owners--Control by another person.
Section 20-9-31 - Livestock--Contract--Facilities.
Section 20-9-32 - Civil cause of action for malicious intimidation or harassment--Damages.
Section 20-9-33 - Civil liability for counterfeit lien.
Section 20-9-34 - Civil liability for harassment by threat of fraudulent legal proceedings or liens.
Section 20-9-35 - Civil liability for impersonating a judicial official.
Section 20-9-36 - Definitions related to asbestos claims.
Section 20-9-37 - Asbestos claim defined.
Section 20-9-38 - Successor asbestos-related liabilities defined.
Section 20-9-39 - Limitation on cumulative successor asbestos-related liabilities.
Section 20-9-40 - Limitation where transferor assumed or incurred liabilities of prior transferor.
Section 20-9-41 - Total gross assets defined--Determination of fair market value.
Section 20-9-42 - Adjustment of fair market value of total gross assets.
Section 20-9-43 - Exclusions from limitation on cumulative successor asbestos-related liabilities.
Section 20-9-46 - Wrongful human trafficking.
Section 20-9-47 - Definitions pertaining to fishing tournaments.
Section 20-9-48 - Limited liability of fishing tournament sponsors.
Section 20-9-50 - Fishing professionals and tournament sponsors liable for warranty and trespass.
Section 20-9-53 - Definitions.
Section 20-9-54 - Liability for riot and incitement to riot.
Section 20-9-55 - Jurisdiction--Evidence--Procedure.