12-559. Definitions In this article, unless the context otherwise requires: 1. " Asbestos claim" means 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 a claim for: (i) […]
12-559.01. Asbestos-related actions; successor corporation liability; applicability A. Except as provided in subsection B of this section, 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 […]
12-559.02. Establishing the fair market value of total gross assets A. To determine the limitation pursuant to section 12-559.01, a successor corporation may establish the fair market value of total gross assets through any method reasonable under the circumstances, including either of the following: 1. By reference to the going concern value of the assets […]
12-559.03. Adjustment of the fair market value of total gross assets A. Except as provided in subsections B, C and D of 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 following: 1. The […]
