This text of Georgia § 12-8-206 (Criteria for prospective purchasers to qualify for limitation of liability) is published on Counsel Stack Legal Research, covering Georgia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
(a)To qualify for a limitation of liability as provided in Code Section 12-8-207 , a prospective purchaser must meet the following criteria:
(1)The prospective purchaser must not be a person who has contributed or who is contributing to a release at the qualifying property;
(2)Where the prospective purchaser is an individual, the party must not: be a relative by blood within the third degree of consanguinity or by marriage; be an employee, shareholder, officer, or agent; or otherwise be affiliated with a current owner of the subject property or any person who has contributed or is contributing to a release at the subject property;
(3)Where the prospective purchaser is a corporation or other legal entity, the party must not: be a current or former subsidiary, division, parent company, o
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(a) To qualify for a limitation of liability as provided in Code Section 12-8-207 , a prospective purchaser must meet the following criteria: (1) The prospective purchaser must not be a person who has contributed or who is contributing to a release at the qualifying property; (2) Where the prospective purchaser is an individual, the party must not: be a relative by blood within the third degree of consanguinity or by marriage; be an employee, shareholder, officer, or agent; or otherwise be affiliated with a current owner of the subject property or any person who has contributed or is contributing to a release at the subject property; (3) Where the prospective purchaser is a corporation or other legal entity, the party must not: be a current or former subsidiary, division, parent company, or partner; be the employer or former employer; or otherwise have been affiliated with the current owner of the subject property or any person who has contributed or is contributing to a release at the subject property; (4) The prospective purchaser must not be in violation of any order, judgment, statute, rule, or regulation subject to the enforcement authority of the director; and (5) The prospective purchaser must meet such other criteria as may be established by the board pursuant to Code Section 12-8-203 . (b) The director may grant a variance from the eligibility requirements contained in paragraphs (2), (3), (4), and (5) of subsection (a) of this Code section if the director finds that such criteria would render a prospective purchaser ineligible for a limitation of liability under this article, that no other qualified prospective purchaser has applied for a limitation of liability for the qualifying property, and that: (1) Such ineligibility would result in the continuation of a condition which poses a threat to human health and the environment; (2) The director would likely be required to perform the necessary corrective action using funds from the hazardous waste trust fund; and (3) In all probability, the director would be unable to recover the cost of the corrective action as provided in Code Section 12-8-96.1 . The director may place such conditions upon the grant of a variance as he or she deems appropriate including, without limitation, a provision relating to the time all or a portion of the corrective action must be completed, and if the applicant fails to comply with such conditions the director may modify or withdraw such variance.