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 § 20-9-40

Title 20PERSONAL RIGHTS AND OBLIGATIONS

Ch. 20-8LIABILITY FOR TORTS

This text of South Dakota § 20-9-40 (Limitation where transferor assumed or incurred liabilities of prior transferor.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 20-9-40 (2026).

Text

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.