§ 686c-4

686C.4 Establishing fair market value of total gross assets. 1. A successor may establish the fair market value of total gross assets, which include intangible assets, for the purpose of the limitations under section 686C.3, through any methodreasonable under the circumstances, including any of the following: a. 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. b. 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. 2. 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 chapter, nor shall thischapter otherwise affect the rights and obligations of an insurer, transferor, or successorunder any insurance contract or any related agreement, including, without limitation,preenactment settlements resolving coverage-related disputes, and the rights of an insurer toseek

ror, or successorunder any insurance contract or any related agreement, including, without limitation,preenactment settlements resolving coverage-related disputes, and the rights of an insurer toseek payment for applicable deductibles, retrospective premiums, or self-insured retentionsor to seek contribution from a successor for uninsured or self-insured periods or periodswhere 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 disputeconcerning any such liability insurance coverage entered into by a transferor or successorwith the insurers of the transferor before July 1, 2017, shall be determinative of the totalcoverage of such liability insurance to be included in the calculation of the transferor’s totalgross assets. 2017 Acts, ch 11, §22Referred to in §686C.2, 686C.5 Sat Dec 23 12:26:24 2023 Iowa Code 2024, Section 686C.4 (7, 0)