§ 29-34-702. Part Definitions
As used in this part: “AMA Guides to the Evaluation of Permanent Impairment” means the American Medical Association’s Guides to the Evaluation of Permanent Impairment in effect at the time of the performance of any examination or test on the exposed person required under this part; “Asbestos” has the same meaning as defined in § […]
§ 29-34-703. Medical Report — Evidence Requirements — Class Actions
A plaintiff in an asbestos action alleging a nonmalignant condition shall file within ninety (90) days of filing the complaint or other initial pleading a detailed narrative medical report and diagnosis, signed by a qualified physician and accompanied by supporting test results, constituting prima facie evidence that the exposed person meets the requirements of this […]
§ 29-34-504. Limitations on Cumulative Successor Asbestos-Related Liabilities
Except as otherwise provided in subsection (b), the cumulative successor asbestos-related liabilities of a successor 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 successor corporation does not have responsibility for successor asbestos-related liabilities in excess of […]
§ 29-34-505. Establishment of Fair Market Value
A successor corporation may establish the fair market value of total gross assets for the purpose of the limitations under § 29-34-504 through generally accepted accounting principles, including: By reference to the going concern value of the assets or to the purchase price attributable to or paid for the assets in an arms-length transaction; or […]
§ 29-34-506. Rate of Annual Increase of Fair Market Value
Except as otherwise provided in this section, the fair market value of total gross assets at the time of the merger or consolidation shall increase annually at a rate equal to the sum of: The prime rate as listed in the first edition of the Wall Street Journal published for each calendar year since the […]
§ 29-34-507. Liberal Construction of Part — Application of Part
The courts of this state shall construe this part liberally with regard to successors. This part shall apply to all asbestos claims filed against a successor on or after July 1, 2013. This part shall also apply to any pending asbestos claims against a successor in which trial has not commenced as of July 1, […]
§ 29-34-601. Short Title
This part shall be known and may be cited as the “Asbestos Bankruptcy Trust Claims Transparency Act”.
§ 29-34-602. Part Definitions
As used in this part: “Asbestos” means chrysotile, amosite, crocidolite, tremolite asbestos, anthophyllite asbestos, actinolite asbestos, asbestiform winchite, asbestiform richterite, asbestiform amphibole minerals, and any of these minerals that have been chemically treated or altered, including all minerals defined as asbestos in 29 CFR 1910 at the time the asbestos action is filed; “Asbestos action” […]
§ 29-34-603. Required Disclosures by Plaintiff
For each asbestos action filed in this state, the plaintiff shall provide all parties with a sworn statement identifying all asbestos trust claims that have been filed by the plaintiff or by anyone on the plaintiff’s behalf, including claims with respect to asbestos-related conditions other than those that are the basis for the asbestos action […]
§ 29-34-604. Discovery
Trust claims materials and trust governance documents are presumed to be relevant and authentic and are admissible in evidence. No claims of privilege apply to any trust claims materials or trust governance documents. A defendant in an asbestos action may seek discovery from an asbestos trust. The plaintiff may not claim privilege or confidentiality to […]