LIMITATIONS ON SUCCESSOR ASBESTOS-RELATED LIABILITIES. A. Except as further limited in subsection B of this section, 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 innocent successor corporation does not have any responsibility for successor asbestos-related liabilities in excess of this limitation.
B. If the transferor had assumed or incurred successor asbestos-related liabilities in connection with a prior merger or consolidation with a prior transferor, then the fair market value of the total assets of the prior transferor, determined as of the time of such earlier merger or consolidation, shall be substituted for the limitation set forth in subsection A of this section for purposes of determining the limitation of liability of an innocent successor corporation.
Added by Laws 2013, 1st Ex.Sess., c. 22, § 5, emerg. eff. Sept. 10, 2013.
NOTE: Text formerly resided under repealed Title 76, § 75, which was derived from Laws 2009, c. 228, § 69, which was held unconstitutional by the Oklahoma Supreme Court in the case of Douglas v. Cox Retirement Properties, Inc., 2013 OK 37, 302 P.2d 789 (Okla. 2013).
Structure Oklahoma Statutes
§76-1. Rights of others must be respected.
§76-1.1. Parent or child not answerable for other's act.
§76-3. Deceits defined and classed.
§76-4. Deceit upon the public deemed deceit of any individual misled.
§76-5. Responsibility for negligence - "Good Samaritan Act".
§76-5.4. Good Samaritan Revolving Fund.
§76-5.5. Limitation of actions.
§76-5.7. Accident or disaster involving hazardous materials - Immunity from civil liability.
§76-5A. Emergency use of automated defibrillator - Immunity from civil liability.
§76-6. General rights of persons.
§76-8. Wrongs against personal relations.
§76-8.1. Alienation of affections or seduction - Civil action - Abolition.
§76-17. Medical malpractice - Reporting of the claim to licensing board.
§76-20. Refusing to furnish records - Penalty.
§76-20.1. Healing arts - Standard of care.
§76-20.2. Chelation or other authorized therapy not prohibited.
§76-21. Presumption of negligence.
§76-23. Public utilities - Definitions - Fraud - Penalties - Civil liability - Exemptions.
§76-25. Professional review body, staff and personnel - Limitation of liability.
§76-26. Persons supplying information to professional review body - Protection from liability.
§76-27. Limitations on liability - Extent.
§76-28. Professional review body - Requirements for protection from liability.
§76-29. Emergency exception from notice and hearing requirement.
§76-31.3. Oklahoma Health Care Access Act - Volunteer Health Care Provider Program.
§76-32. Volunteer Professional Services Immunity Act.
§76-32.1. Liability for physician or health care provider acting in volunteer capacity.
§76-33. Immunity from liability - Application.
§76-38. Short title - Common Sense Consumption Act.
§76-41. Weight gain or obesity civil liability restricted - Exceptions.
§76-50.1. Short title – Legislative intent - Construction.
§76-50.4. Waiver of liability.
§76-50.6. Gun ranges and gun clubs - Liability.
§76-51.1. Legislative findings – Injuries from unlawful firearm use.
§76-52.1. Firearm manufacturer, distributor, or seller liability limitation.
§76-52.2. Association of licensed persons liability limitation.
§76-53.1. Exceptions to liability limitations.
§76-57.1. Product liability for inherently unsafe products - Affirmative defense.
§76-57.2. Rebuttable presumptions – Grounds for rebutting – Liability of product sellers.
§76-58.1. Subsequent measures not admissible - Exceptions.
§76-80. Safety of premises - Liability to trespasser.
§76-80.1. Liability and vicarious liability for damages while trespassing.
§76-81. Short title - Personal Injury Trust Fund Transparency Act.
§76-83. Required disclosures by plaintiff.
§76-84. Discovery - Use of materials.
§76-85. Scheduling trial - Stay of action.
§76-86. Defendant's identification of additional or alternative personal injury trusts.
§76-87. Valuation of personal injury trust claims - Judicial notice.
§76-89. Failure to provide information - Sanctions.
§76-90. Short title - Asbestos and Silica Claims Priorities Act.
§76-93. Pulmonary function testing - Interpretation.
§76-96. Service of report on all defendants - Trial docket - Interpretation.
§76-98. Effect of act in bankruptcy cases.
§76-100. Beginning of limitations period - Separate claims for nonmalignant conditions and cancer.
§76-100.1. Applicability of act.
§76-101. Severe weather shelter - Immunity from suit.
§76-102. Short title - Innocent Successor Asbestos-Related Liability Fairness Act.
§76-105. Limitations on successor asbestos-related liabilities.
§76-106. Establishing fair market value of total gross assets.
§76-111. Limitations on liability for exposure to COVID-19.
§76-112. Short title - COVID-19 Product Protection Act – Limitations on liability.