§76-105. Limitations on successor asbestos-related liabilities.
LIMITATIONS ON SUCCESSOR ASBESTOS-RELATED LIABILITIES. A. Except as further limited in subsection B of this section, the cumulative successor asbestos-related liabilities of an innocent 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 innocent successor corporation […]
§76-106. Establishing fair market value of total gross assets.
ESTABLISHING FAIR MARKET VALUE OF TOTAL GROSS ASSETS. A. An innocent successor corporation may establish the fair market value of total gross assets for the purpose of the limitations under Section 5 of this act through any method reasonable under the circumstances, including: 1. By reference to the going concern value of the assets or […]
§76-107. Adjustment.
ADJUSTMENT. 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 a merger or consolidation increases annually at a rate equal to the sum of: 1. The prime rate as listed in the first edition of “The Wall Street Journal” […]
§76-108. Scope of act.
SCOPE OF ACT. The courts of this state shall construe the provisions of the Innocent Successor Asbestos-Related Liability Fairness Act liberally with regard to innocent successors. Nothing in this act shall be construed to limit the liability of the transferor, except to the extent the transferor is or becomes a successor. Added by Laws 2013, […]
§76-109. Effective date.
EFFECTIVE DATE. The Innocent Successor Asbestos-Related Liability Fairness Act shall apply to all asbestos claims filed against an innocent successor on or after the effective date of the Innocent Successor Asbestos-Related Liability Fairness Act. The Innocent Successor Asbestos-Related Liability Fairness Act shall also apply to any pending asbestos claims against an innocent successor in which […]
§76-95. Prerequisite of prima facie showing in silica claims – Medical report – Evidence requirements.
A. No person shall have a silica claim placed on any active trial roster in this state, or brought to trial in this state, or conduct discovery in a silica claim in this state, in the absence of a prima facie showing of impairment as shown by service on each defendant of a report by […]
§76-111. Limitations on liability for exposure to COVID-19.
A. As used in this section: 1. “COVID-19” means the novel coronavirus identified as SARS-CoV-2, the disease caused by SARS-CoV-2, and conditions associated with the disease; 2. “Guidance” means written guidelines related to COVID-19 issued by the Centers for Disease Control and Prevention, Occupational Safety and Health Administration of the United States Department of Labor, […]
§76-96. Service of report on all defendants – Trial docket – Interpretation.
A. In order to have an asbestos or silica claim placed on any active trial docket in this state, or brought to trial in this state, or conduct discovery in an asbestos or silica claim in this state, an individual must provide prima facie evidence of impairment by serving on each defendant who answers or […]
§76-112. Short title – COVID-19 Product Protection Act – Limitations on liability.
A. This section shall be known and may be cited as the “COVID-19 Product Protection Act”. B. As used in this act: 1. “COVID-19” means the novel coronavirus identified as SARS-CoV-2, the disease caused by SARS-CoV-2, and conditions associated with the disease; 2. “COVID-19 public health emergency” means any emergency declared by the Governor of […]
§76-97. Filing of written report and supporting test results of prima facie showing – Expediting mesothelioma claims.
A. In any action covered by the provisions of this act, a claimant shall file together with the complaint or other initial pleading a written report and supporting test results constituting the prima facie showing required pursuant to this act. In an action where the claimant either fails to provide such prima facie evidence or […]