Indiana Code 34-31-8-9. Limitations application
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Sec. 9. The limitations set forth in section 8 of this chapter apply to the successor asbestos related liability of an innocent successor corporation and do not apply to:
(2) a claim against a corporation that is not a successor asbestos related liability;
(1) worker’s compensation benefits paid by or on behalf of an employer to an employee under IC 22-3 or a comparable worker’s compensation law in another jurisdiction;
Terms Used In Indiana Code 34-31-8-9
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- corporation: means a corporation for profit, including a domestic corporation organized under Indiana law or a foreign corporation organized under the law of a jurisdiction other than Indiana. See Indiana Code 34-31-8-2
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- successor asbestos related liability: means any liability that is related to an asbestos claim that was assumed or incurred by a corporation as a result of:
Indiana Code 34-31-8-4
(3) any obligation under the federal National Labor Relations Act (29 U.S.C. § 151 et seq.); or
(4) a collective bargaining agreement.
As added by P.L.134-2009, SEC.6.