North Dakota Century Code Title 32. Judicial Remedies § 32-46-05. Adjustment

1. Except as provided in subsections 2 through 4, the fair market value of total gross assets at the time of the merger or consolidation increases annually at a rate equal to the sum of:

2. The rate found in subsection 1 may not be compounded.

3. The adjustment of the fair market value of total gross assets continues as provided in subsection 1 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 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.

4. An adjustment of the fair market value of total gross assets may not be applied to any liability insurance that may be included in the definition of total gross assets by subsection 3 of section 32-46-04.