Asbestos/Successor Liability Reform: CS/SB 2228 (2005) - ATRA

Asbestos/Successor Liability Reform: CS/SB 2228 (2005)

| November 15, 2016

Applied provisions of the bill to corporations that are successors

Applied provisions of the bill to corporations that are successors and became a successors before January 1, 1972. Provided that cumulative successor asbestosrelated liabilities of a corporation are limited to fair market value of total gross assets of transferor determined as of time of merger or consolidation. Provided methods by which to establish fair market value of total gross assets.

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