Pennsylvania § 8368.3 Liability

Pennsylvania Statutes

§ 8368.3 — Liability

Pennsylvania § 8368.3

JurisdictionPennsylvania

Title 42JUDICIARY AND JUDICIAL PROCEDURE

PartPART VII

Ch. 83PARTICULAR RIGHTS AND IMMUNITIES

Subch.SUCCESSOR BUSINESS ENTITY LIABILITY

This text of Pennsylvania § 8368.3 (Liability) is published on Counsel Stack Legal Research, covering Pennsylvania primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

42 Pa. Cons. Stat. § 8368.3 (2026).

Text

(a)Limitation.--Except as provided under subsection (c), the cumulative successor asbestos-related liability of a successor business entity shall be limited to the fair market value of the total gross assets of the transferor as of the time of the merger or consolidation with the successor business entity.

(b)Responsibility.--A successor business entity shall have no responsibility for successor asbestos-related liabilities in excess of the limitation under subsection (a).

(c)Exception.--If a transferor assumed or incurred successor asbestos-related liability in connection with a prior merger or consolidation with a prior transferor, the fair market value of the total assets of the prior transferor as of the time of the prior merger or consolidation shall be substituted for the limita

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(a) Limitation.--Except as provided under subsection (c), the cumulative successor asbestos-related liability of a successor business entity shall be limited to the fair market value of the total gross assets of the transferor as of the time of the merger or consolidation with the successor business entity.

(b) Responsibility.--A successor business entity shall have no responsibility for successor asbestos-related liabilities in excess of the limitation under subsection (a).

(c) Exception.--If a transferor assumed or incurred successor asbestos-related liability in connection with a prior merger or consolidation with a prior transferor, the fair market value of the total assets of the prior transferor as of the time of the prior merger or consolidation shall be substituted for the limitation under subsection (a) for purposes of determining the liability of the successor business entity.