Title 32 — Judicial Remedies

As used in this chapter: 1. "Asbestos claim" means a claim, wherever or whenever made, for damages, losses, indemnification, contribution, or other relief arising out of, based on, or in any way related to asbestos, including: a. The health effects of exposure to asbestos, includ…

1. The limitations in section 32-46-03 apply to an innocent successor corporation. 2. The limitations of section 32-46-03 do not apply to: a. Workers' compensation benefits paid by or on behalf of an employer to an employee under the provisions of title 65, or a comparable worker…

1. Except as further limited in subsection 2, the cumulative successor asbestos-related liabilities of an innocent successor corporation are limited to the fair market value of the total gross assets of the transferor determined as of the time of the merger or consolidation. The …

1. An innocent successor corporation may establish the fair market value of total gross assets for the purpose of the limitations under section 32-46-03 through any method reasonable under the circumstances, including: a. By reference to the going concern value of the assets or t…

1. Except as provided in subsections 2 through 4, the fair market value of total gross assets at the time of the merger or consolidation increases annually at a rate equal to the sum of: a. The prime rate as listed in the first edition of the Wall Street Journal published for eac…

This chapter applies to all asbestos claims filed against an innocent successor on or after August 1, 2009. This chapter also applies to any pending asbestos claims against an innocent successor in which trial has not commenced as of the effective date, except that any provisions…