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6-5-684
Section 6-5-684 Adjustment of fair market value of total gross assets. (a) Except as provided
in subsections (b), (c), and (d), 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: (1) 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. (2) One percent. (b) The rate in subsection (a) may
not be compounded. (c) The adjustment of fair market value of total gross assets shall continue
as provided under subsection (a) 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...
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6-5-682
Section 6-5-682 Limitations of liability. (a) Except as further limited in subsection (b),
the cumulative successor asbestos-related liabilities of a corporation are limited to the
fair market value of the total gross assets of the transferor determined as of the time of
the merger or consolidation. The corporation does not have any responsibility for successor
asbestos-related liabilities in excess of this limitation. (b) If the transferor had assumed
or incurred successor asbestos-related liabilities in connection with a prior merger or consolidation
with a prior transferor, the fair market value of the total assets of the prior transferor,
determined as of the time of the earlier merger or consolidation, shall be substituted for
the limitation set forth in subsection (a) for purposes of determining the limitation of liability
of a corporation. (Act 2011-545, p. 1001, §3.)...
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6-5-680
Section 6-5-680 Definitions. For the purposes of this article, the following words shall have
the following meanings: (1) ASBESTOS CLAIM. Any claim, wherever or whenever made, for damages,
losses, indemnification, contribution, or other relief arising out of, based on, or in any
way related to asbestos, including: a. The health effects of exposure to asbestos, including
any claim for: 1. Personal injury or death. 2. Mental or emotional injury. 3. Risk of disease
or other injury. 4. The costs of medical monitoring or surveillance, to the extent these claims
are recognized under state law. b. Any claim made by or on behalf of a person exposed to asbestos,
or a representative, spouse, parent, child, or other relative of the person. c. Any claim
for damage or loss caused by the installation, presence, or removal of asbestos. (2) CORPORATION.
A corporation for profit, including a domestic corporation organized under the laws of this
state, or a foreign corporation organized under laws other...
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40-21-4
Section 40-21-4 Detailed requirements of reports. Each such report shall show the following
items and particulars as the same stood on the next preceding October 1, together with any
other facts or information that may be called for by said Department of Revenue: (1) The name
and principal place of business of the company, corporation, association, or individual in
whose behalf the statement is made and the character of the business engaged in; (2) If a
company, association or corporation, the state, or government under the laws of which it was
incorporated or authorized to do business, the date of original organization, the date of
reorganization, consolidation, or merger and the purpose of its incorporation as expressed
in its charter or articles of association; (3) The place where all books, papers, and accounts
are kept, and the names and post-office addresses of the president, secretary, treasurer,
superintendent, general manager, general counsel, directors, and all other general...
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6-5-683
Section 6-5-683 Fair market value of total gross assets. (a) A corporation may establish the
fair market value of total gross assets for the purpose of the limitations under Section 6-5-682
through any method reasonable under the circumstances, including either of the following:
(1) By reference to the going concern value of the assets or to the purchase price attributable
to or paid for the assets in an arm's length transaction. (2) In the absence of other readily
available information from which fair market value can be determined, by reference to the
value of the assets recorded on a balance sheet. (b) Total gross assets include intangible
assets. (c) Total gross assets include the aggregate coverage under any applicable liability
insurance that was issued to the transferor whose assets are being valued for purposes of
this section, which insurance has been collected or is collectible to cover successor asbestos-related
liabilities except compensation for liabilities arising from...
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27-17A-42
Section 27-17A-42 Trust contributions; trustee responsibilities; withdrawals; analysis and
certification by seller. (a) The obligation of the seller under a preneed contract shall be
to make contributions into the Cemetery Merchandise and Services Trust Fund in accordance
with the following formulae: (1) With respect to all cemetery merchandise, 110 percent of
wholesale cost. (2) With respect to outer burial containers, 60 percent of the purchase price
specified in the preneed contract. (3) With respect to cemetery services, 60 percent of the
purchase price specified in the preneed contract. (4) With respect to all cash advance items
sold, 100 percent of the purchase price specified for the same in the preneed contract. (5)
With respect to caskets, 75 percent of the purchase price. (b) All contributions shall be
made within 30 days after the end of the calendar month in which the preneed contract is paid
in full, unless, prior to that time, all liabilities of the seller under the...
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40-18-6
Section 40-18-6 Gain or loss - Basis of property; adjusted basis. (a) Basis (unadjusted) of
property. The basis of property shall be the cost of the property with the following exceptions:
(1) INVENTORY VALUE. If the property should have been included in the last inventory, the
basis shall be the last inventory value thereof. (2) GIFT or TRANSFER IN TRUST. If the property
was acquired by gift or by a transfer in trust the basis shall be determined in accordance
with 26 U.S.C. § 1015. If property was acquired by gift or transfer in trust on or after
December 31, 1932 and prior to March 15, 1985, the basis shall be the fair and reasonable
market value of the property at the time of the acquisition. (3) PROPERTY TRANSMITTED AT DEATH.
If the property was acquired from a decedent, the taxpayer's basis in the property shall be
determined in accordance with 26 U.S.C. § 1014. (4) PROPERTY ACQUIRED UPON LIKE-KIND EXCHANGE.
If the property was acquired upon an exchange described in subsection...
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45-8-242
Section 45-8-242 Levy of tax; advisory referendum; collection of tax; disposition of funds.
(a) This section shall only apply to Calhoun County. (b) As used in this section, state sales
and use tax means the tax imposed by the state sales and use tax statutes, including, but
not limited to, Sections 40-23-1, 40-23-2, 40-23-4, 40-23-60, 40-23-61, 40-23-62, and 40-23-63.
(c)(1) The County Commission of Calhoun County may levy in the police jurisdictions of the
incorporated municipalities in the county and in the unincorporated areas of the county, in
addition to all other taxes a sales and use tax, parallel to the state sales and use tax,
of up to two percent of the gross sales, gross receipts, or the fair and reasonable market
value of tangible personal property, as appropriate, except where a different rate is provided
herein. Notwithstanding any other part or provision of this section, no additional tax levied
by this section shall be levied or collected on the sale, storage, use, or...
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45-27-240
Section 45-27-240 Creation; composition; oath; compensation. (a) There shall be in Escambia
County a county board of equalization and adjustment, to consist of three members, each of
whom shall have been a resident of the county for at least five years. (b) The county board
of equalization as now constituted is hereby abolished and the duties of the board are transferred
to the county board of equalization and adjustment. (c) The board shall be composed of three
members appointed as provided in this section to serve four-year terms. During the month of
August, 2005, and during the month of August of each fourth year thereafter, the county commission
of the county and the county board of education shall each appoint one person to membership
on the county board of equalization and adjustment. During the month of August, 2005, and
during the month of August of each eighth year thereafter, the governing body of the City
of Atmore shall appoint one person to membership on the county board...
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27-17A-49
Section 27-17A-49 Endowment care fund deposits; qualification as endowment care cemetery. (a)
From the sale price of each plot, crypt, or niche sold by the cemetery authority, of an endowment
care cemetery, it shall pay an amount, not less than as determined in accordance with the
following schedule, to the trustee of the endowment care fund, which payment shall be paid
over to the trustee not more than four months after the close of the month in which the total
or final payment on the sale has been received: (1) Fifteen percent of the sale price of each
grave or lawn crypt space. (2) Five percent of the sale price of each mausoleum crypt or niche.
(3) The amount received for special care funds, gifts, grants, contribution devises, or bequests
made with respect to the separate or special care of a particular lot, grave, crypt, niche,
mausoleum, monument, or marker or that of a particular family, as distinguished from the general
endowed care of a cemetery or of a garden. (b) In...
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