Arkansas Code Title 16, Subtitle 7, Chapter 120, Subchapter 6 - Successor Corporation Asbestos-Related Liability Fairness Act [Effective January 1, 2020]

• § 16-120-601 - Title. [Effective January 1, 2020.]
  This subchapter shall be known and may be cited as the "Successor Corporation Asbestos-Related Liability Fairness Act".
• § 16-120-602 - Legislative Findings. [Effective January 1, 2020.]
  The General Assembly finds that: (1) Asbestos-related claims threaten the continued viability of uniquely situated companies that have never manufactured, sold, or distributed asbestos...
• § 16-120-603 - Definitions. [Effective January 1, 2020.]
  As used in this subchapter: (1) "Asbestos claim" means any civil cause of action, wherever or whenever made, arising out of, based on, or...
• § 16-120-604 - Limit on Successor Asbestos-Related Liabilities. [Effective January 1, 2020.]
  (a) A successor is not liable for any asbestos claim when the successor's cumulative successor asbestos-related liabilities exceed the fair market value of the...
• § 16-120-605 - Establishing Fair Market Value of Total Gross Assets. [Effective January 1, 2020.]
  (a) A successor may establish the fair market value of total gross assets for the purpose of § 16-120-604 through any method reasonable under...
• § 16-120-606 - Adjustment. [Effective January 1, 2020.]
  (a) Except as provided in subsections (b)-(d) of this section, the fair market value of total gross assets at the time of the merger...

Last modified: November 15, 2016