Utah Statutes
§ 78B-4-604 — Measure of liabilities.
Utah·Title 78B Judicial Code·Ch. 78B-4 Limitations on Liability·Part 78B-4-6 Successor Corporation Asbestos-Related Liability Act
(1)Except as further limited in Subsection (2), the cumulative successor asbestos-related liability of a successor is limited to the fair market value of the total gross assets of the transferor determined as of the time of the merger or consolidation. A successor does not have responsibility for successor asbestos-related liability in excess of this limitation.
(2)If the transferor had 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 determined as of the time of the earlier merger or consolidation shall be substituted for the limitation set forth in Subsection (1) for purposes of determining the limitation of liability of a successor.
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Utah § 78B-4-604 (Measure of liabilities.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Enacted by Chapter 237, 2012 General Session
Nearby Sections
15
§ 78B-1-101
Title.§ 78B-1-102
Definitions.§ 78B-1-104
Jury composition.§ 78B-1-109
Excuse from jury service -- Postponement.§ 78B-1-110
Limitations on jury service.§ 78B-1-112
Jurors -- Preservation of records.§ 78B-1-114
Jury fee assessments -- Payment.§ 78B-1-115
Jurors -- Penalties.