State Codes and Statutes

State Codes and Statutes

Statutes > Nebraska > Chapter25 > 25-21_284

25-21,284. Terms, defined.For purposes of the Successor Asbestos-RelatedLiability Act:(1) Asbestos claim meansany claim, wherever or whenever made, for damages, losses, indemnification,contribution, or other relief arising out of, based on, or in any way relatedto asbestos, including:(a)Any claim involving the health effects of exposure to asbestos, includinga claim for personal injury or death, mental or emotional injury, risk ofdisease or other injury, or the costs of medical monitoring or surveillance;(b) Any claim made byor on behalf of any person exposed to asbestos, or a representative, spouse,parent, child, or other relative of the person; and(c) Any claim for damage or losscaused by the installation, presence, or removal of asbestos;(2) Corporation meansa corporation for profit, including a domestic corporation organized underthe laws of this state or a foreign corporation organized under laws otherthan the laws of this state;(3) Successor asbestos-related liabilities means liabilities,whether known or unknown, asserted or unasserted, absolute or contingent,accrued or unaccrued, liquidated or unliquidated, or due or to become due,that are related to asbestos claims and were assumed or incurred by a corporationas a result of or in connection with a merger or consolidation, or the planof merger or consolidation related to the merger or consolidation with orinto another corporation, or that are related in any way to asbestos claimsbased on the exercise of control or the ownership of stock of the corporationbefore the merger or consolidation. Successor asbestos-related liabilitiesincludes liabilities that, after the time of the merger or consolidation forwhich the fair market value of total gross assets is determined under section 25-21,287,were or are paid or otherwise discharged, or committed to be paid or otherwisedischarged, by or on behalf of the corporation, or by a successor corporation,or by or on behalf of a transferor, in connection with settlements, judgments,or other discharges in this state or another jurisdiction;(4) Successor corporationmeans a corporation that assumes or incurs or has assumed or incurred successorasbestos-related liabilities that is a successor and became a successor beforeJanuary 1, 1972, or is any of that successor corporation's successors; and(5) Transferor meansa corporation from which successor asbestos-related liabilities are or wereassumed or incurred. SourceLaws 2010, LB763, § 2.Effective Date: July 15, 2010