Domestic or Foreign Corporation as Successor; Exemption From Limitations

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  5. Domestic or Foreign Corporation as Successor; Exemption From Limitations

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  1. The limitations contained in Code Section 51-15-4 apply to a domestic or foreign corporation that is a successor and became a successor before January 1, 1972, or is any of that successor corporation's successor corporation.
  2. The limitations contained in Code Section 51-15-4 do not apply to:
    1. Any claim against a corporation that does not constitute a successor asbestos related liability;
    2. An insurance corporation;
    3. Any obligations under the federal National Labor Relations Act or under any collective bargaining agreement; or
    4. A successor that, after a merger or consolidation, continued in the business of mining asbestos, in the business of selling or distributing asbestos fibers, or in the business of manufacturing, distributing, removing, or installing asbestos-containing products that were the same or substantially the same as those products previously manufactured, distributed, removed, or installed by the transferor.

(Code 1981, §51-15-3, enacted by Ga. L. 2007, p. 4, § 2/SB 182.)


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