§ 32-46-01 — Definitions

North Dakota § 32-46-01

• Jurisdiction: North Dakota
• Title 32: Judicial Remedies
• Ch. 32-46: Asbestos-Related Liability of Successor

Text

As used in this chapter:
1. "Asbestos claim" means a 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 personal injury
or death, mental or emotional injury, risk of disease or other injury, or the costs of
medical monitoring or surveillance;
b. A claim made by or on behalf of a person exposed to asbestos, or a
representative, spouse, parent, child, or other relative of the person; and
c. A claim for damage or loss caused by the installation, presence, or removal of
asbestos.
2. "Corporation" means a corporation for profit, including a domestic corporation
organized under the laws of this state or a foreign corporation organized under laws
other than the laws of this state.
3. "Innocent successor" means a corporation that assumes or incurs or has assumed or
incurred successor asbestos-related liabilities that is a successor and became a
successor before January 1, 1972, or is any of that successor corporation's
successors.
4. "Successor asbestos-related liabilities" means a liability, whether known or unknown,
asserted or unasserted, absolute or contingent, accrued or unaccrued, liquidated or
unliquidated, or due or to become due, which is related to asbestos claims and were
assumed or incurred by a corporation as a result of or in connection with a merger or
consolidation, or the plan of merger or consolidation related to the merger or
consolidation with or into another corporation, or that is related in any way to asbestos
claims based on the exercise of control or the ownership of stock of the corporation
before the merger or consolidation. The term includes liabilities that, after the time of
the merger or consolidation for which the fair market value of total gross assets is
determined under section 32-46-04, were or are paid or otherwise discharged, or
committed to be paid or otherwise discharged, by or on behalf of the corporation, or by
a successor of the corporation, or by or on behalf of a transferor, in connection with
settlements, judgments, or other discharges in this state or another jurisdiction.
5. "Transferor" means a corporation from which successor asbestos-related liabilities are
or were assumed or incurred.