(a) A successor may establish the fair market value of total gross assets for the purpose of § 16-120-604 through any method reasonable under the circumstances, including:
(1) By reference to the growing concern value of the assets or to the purchase price attributable to or paid for the assets in an arm's-length transaction; or
(2) 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.
(b) Total gross assets under subsection (a) of this section include intangible assets.
(c)
(1) 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 the insurance shall not be affected by this section nor shall this section otherwise affect the rights and obligations of an insurer, transferor, or successor under an insurance contract or any related agreements, including without limitation preenactment settlements resolving coverage-related disputes and the rights of an insurer to:
(A) Seek payment for:
(i) Applicable deductibles;
(ii) Retrospective premiums; or
(iii) Self-insured retentions; or
(B) Seek contribution from a successor for uninsured or self-insured periods or periods where insurance is uncollectible or otherwise unavailable.
(2) Without limiting subdivision (c)(1)(A) of this section, to the extent total gross assets include any liability insurance, a settlement of a dispute concerning any liability insurance coverage entered into by a transferor or successor with the insurers of the transferor before January 1, 2020, shall be determinative of the total coverage of the liability insurance to be included in the calculation of the transferor's total gross assets.