Florida Statute 774.006 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XLV
TORTS

Chapter 774
ASBESTOS-RELATED AND SILICA-RELATED CLAIMS

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F.S. 774.006

774.006 Adjustment.—

(1) Except as provided in subsections (2), (3), and (4), the fair market value of total gross assets at the time of a merger or consolidation shall increase annually at a rate equal to the sum of:

(a) 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

(b) One percent.

(2) The rate in subsection (1) may not be compounded.

(3) The adjustment of fair market value of total gross assets shall continue as provided under 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 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) No adjustment of the fair market value of total gross assets shall be applied to any liability insurance otherwise included in the definition of total gross assets by s. 774.005(3).

History.—s. 6, ch. 2005-269.

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Amendments to 774.006

Arrestable Offenses / Crimes under Fla. Stat. 774.006

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 774.006.

Annotations, Discussions, Cases:

Cases Citing Statute 774.006

Total Results: 2

Progressive Select Insurance Co. v. Lorenzo

Court: District Court of Appeal of Florida | Date Filed: 2010-09-01

Citation: 49 So. 3d 272, 2010 Fla. App. LEXIS 12718, 2010 WL 3418352

Snippet: jury was discharged.” [e.s., c.o.] 844 So.2d at 774.6 The final sentence in the above quotation perfectly

Boulevard Nat. Bank of Miami v. Air Metals Indus., Inc.

Court: Supreme Court of Florida | Date Filed: 1965-06-09

Citation: 176 So. 2d 94

Snippet: valuable consideration". 31 A.L.R. 876; 110 A.L.R. 774; 6 Am.Jur. (2d) 297 (Assignments, Sec. 114). The American