(1) Every county which shall be enlarged or created from the territory taken from any other county or counties shall:
(a) be liable for a pro rata proportion of the existing debts and liabilities of the county or counties from which such territory shall be taken; and
(b) be entitled to a pro rata proportion of the assets of the county or counties from which such territory is taken.
(2) The share of liabilities and assets shall be determined as provided by 7-2-2204 and 7-2-2244 through 7-2-2246.