North Dakota Statutes
§ 32-46-03 — Measure of liabilities
North Dakota § 32-46-03
This text of North Dakota § 32-46-03 (Measure of liabilities) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
N.D. Cent. Code § 32-46-03 (2026).
Text
1.Except as further limited in subsection 2, 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 does not have responsibility for
successor asbestos-related liabilities in excess of this limitation.
2.If the transferor had assumed or incurred successor asbestos-related liabilities or
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 must be substituted for the limitation set forth in
subsection 1 for purpos
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Nearby Sections
15
§ 32-01-01
Remedies - Classification§ 32-01-02
Action defined§ 32-01-03
Actions - Classification§ 32-01-04
Special proceeding defined§ 32-01-05
Criminal action defined§ 32-01-06
Civil action defined§ 32-01-07
Process in civil action§ 32-01-08
Civil and criminal remedies not merged§ 32-01-10
Provisional remedies classified§ 32-01-12
Conditions of relief from forfeiture§ 32-02-01
Qualifications of sureties - Personal§ 32-02-02
Exception to suretiesCite This Page — Counsel Stack
Bluebook (online)
North Dakota § 32-46-03, Counsel Stack Legal Research, https://law.counselstack.com/statute/nd/32-46-03.