Idaho § 30-1904 LIMITATIONS ON SUCCESSOR ASBESTOS-RELATED LIABILITIES

Idaho Statutes

§ 30-1904 — LIMITATIONS ON SUCCESSOR ASBESTOS-RELATED LIABILITIES

Idaho·Title 30 CORPORATIONS·Ch. 19 SUCCESSOR CORPORATION ASBESTOS-RELATED LIABILITY FAIRNESS ACT

(1)Except as further limited in subsection (2) 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 not have responsibility for successor asbestos-related liabilities in excess of this limitation.

(2)If the transferor has assumed or incurred successor asbestos-related liabilities in connection with a prior merger or consolidation with a prior transferor, then the fair market value of the total assets of the prior transferor determined as of the time of the earlier merger or consolidation shall be substituted for the limitation set forth in subsection (1) of this section for pu

Free access — add to your briefcase to read the full text and ask questions with AI

(1) Except as further limited in subsection (2) 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 not have responsibility for successor asbestos-related liabilities in excess of this limitation.
(2) If the transferor has assumed or incurred successor asbestos-related liabilities in connection with a prior merger or consolidation with a prior transferor, then the fair market value of the total assets of the prior transferor determined as of the time of the earlier merger or consolidation shall be substituted for the limitation set forth in subsection (1) of this section for purposes of determining the limitation of liability of a successor corporation.

Idaho § 30-1904 (LIMITATIONS ON SUCCESSOR ASBESTOS-RELATED LIABILITIES) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.