Indiana Code 34-31-8-4. “Successor asbestos related liability”
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Sec. 4. As used in this chapter, “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:
(2) the plan of merger or consolidation related to the merger or consolidation; or
(1) a merger or consolidation with another corporation;
Terms Used In Indiana Code 34-31-8-4
- asbestos claim: means any claim for damages, losses, indemnification, contribution, or other relief concerning asbestos, including:
Indiana Code 34-31-8-1
- 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
(3) the exercise of control or the ownership of stock of the corporation before the merger or consolidation.
As added by P.L.134-2009, SEC.6.