South Dakota § 20-9-40 Limitation where transferor assumed or incurred liabilities of prior transferor.

South Dakota Statutes

§ 20-9-40 — Limitation where transferor assumed or incurred liabilities of prior transferor.

South Dakota·Title 20 PERSONAL RIGHTS AND OBLIGATIONS·Ch. 20-8 LIABILITY FOR TORTS

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 shall be substituted for the limitation set forth in § 20-9-39 for purposes of determining the limitation of liability of a successor corporation.

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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 shall be substituted for the limitation set forth in § 20-9-39 for purposes of determining the limitation of liability of a successor corporation.

South Dakota § 20-9-40 (Limitation where transferor assumed or incurred liabilities of prior transferor.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.