SUCCESSOR ASBESTOS-RELATED ACT
Summary
Creates the Successor Asbestos-Related Liability Fairness Act. Limits the cumulative successor asbestos-related liabilities of a corporation to the fair market value of the total gross assets of the transferor determined as of the time of the merger or consolidation. Provides that a corporation is not responsible for successor asbestos-related liabilities in excess of that limitation. Provides guidelines for establishing the fair market value of the total gross assets for the purpose of the liability limitation.
Bill status
failed
1 of 4 stages cleared
Introduction
Jan 2006
Committee Review
Floor Vote
Governor
Introduced Jan 20, 2006
Last action Jan 9, 2007
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
18
Key actions
0
Committee
6
Amendments
2
Jan 9, 2007
Senate · Failed
Session Sine Die
Jun 4, 2006
Senate · Referred to committee
Pursuant to Senate Rule 3-9(b) / Referred to Rules
Feb 16, 2006
Senate · Reported by committee
Do Pass as Amended Commerce & Economic Development; 009-000-000
Feb 16, 2006
Senate · Amendment adopted
Senate Committee Amendment No. 1 Adopted
Feb 15, 2006
Senate · Reported by committee
Senate Committee Amendment No. 1 Rules Refers to Commerce & Economic Development
Feb 14, 2006
Senate · Referred to committee
Senate Committee Amendment No. 1 Referred to Rules
Feb 14, 2006
Senate · Amendment offered
Senate Committee Amendment No. 1 Filed with Secretary by Sen. Rickey R. Hendon
Feb 1, 2006
Senate · Referred to committee
Assigned to Commerce & Economic Development
Jan 20, 2006
Senate · Referred to committee
Referred to Rules
0 primary · 1 co-sponsor
Sponsors
Role
Legislator
Party
State
District
Co
Rickey R. Hendon
DDemocratic
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