North Carolina § 99E-54 - Adjustment.
Full text of North Carolina North Carolina General Statutes § 99E-54 — Adjustment., with citation guidance and answers to common questions.
§ 99E-54. Adjustment.
Except as provided in subsections (b), (c), and (d) of this section, 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 the following: 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 calendar year may be used. One percent (1%). The rate defined in subsection (a) of this section shall not be compounded. The adjustment of the fair market value of total gross assets shall continue as provided in subsection (a) of this section 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. 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 G.S. 99E-53. History (2014-110, s. 4.1.) Editor's Note. - Session Laws 2014-110, s. 4.1, enacted this section as G.S. 99E-44. The section has been renumbered as G.S. 99E-54 at the direction of the Revisor of Statutes. Session Laws 2014-110, s. 5.1, is a severability clause.
Frequently Asked Questions About North Carolina § 99E-54
What does North Carolina General Statutes § 99E-54 cover?
Section 99E-54 ("Adjustment.") is part of the North Carolina General Statutes, the codified statutory law of North Carolina. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite North Carolina § 99E-54?
A common citation format is "North Carolina General Statutes § 99E-54" (North Carolina). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of North Carolina law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the North Carolina official source linked on this page or consult a licensed North Carolina attorney.
How does North Carolina § 99E-54 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in North Carolina can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in North Carolina.