(1)  The limitations in Section 78B-4-604 apply to a successor.

Terms Used In Utah Code 78B-4-603

  • 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: means a corporation that:
(a) 
(i) assumes or incurs or has assumed or incurred successor asbestos-related liability;
(ii) is the successor corporation after a merger or consolidation; and
(iii) became a successor before January 1, 1972; or
(b) is a successor corporation of a corporation described in Subsection (3)(a). See Utah Code 78B-4-602
  • Successor asbestos-related liability: includes liability that, after the time of the merger or consolidation for which the fair market value of total gross assets is determined under Section 78B-4-605, was or is paid or otherwise discharged, or committed to be paid or otherwise discharged, by or on behalf of the corporation, or by a successor of the corporation, or by or on behalf of a transferor, in connection with a settlement, judgment, or other discharge in this state or another jurisdiction. See Utah Code 78B-4-602
  • Transferor: means a corporation from which successor asbestos-related liability is or was assumed or incurred. See Utah Code 78B-4-602
    • (2)  The limitations in Section 78B-4-604 do not apply to:

    (a)  workers’ compensation benefits paid by or on behalf of an employer to an employee under Title 34A, Chapter 2, Workers’ Compensation Act, and Title 34A, Chapter 3, Utah Occupational Disease Act, or a comparable workers’ compensation law of another jurisdiction;

    (b)  a claim against a corporation that does not constitute a successor asbestos-related liability;

    (c)  an obligation under the National Labor Relations Act, 29 U.S.C. § 151, et seq., as amended, or under a collective bargaining agreement; or

    (d)  a successor that, after a merger or consolidation, continued in the business of:

    (i)  mining asbestos;

    (ii)  selling or distributing asbestos fibers; or

    (iii)  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.

    Enacted by Chapter 237, 2012 General Session

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