2020 Arkansas Code
Title 16 - Practice, Procedure, And Courts
Subtitle 7 - Particular Proceedings And Remedies
Chapter 120 - Immunity from Tort Liability
Subchapter 6 - Successor Corporation Asbestos-Related Liability Fairness Act [Effective January 1, 2020]
§ 16-120-602. Legislative findings. [Effective January 1, 2020.]
The General Assembly finds that:
(1) Asbestos-related claims threaten the continued viability of uniquely situated companies that have never manufactured, sold, or distributed asbestos or asbestos products and are liable only as successor corporations;
(2) The viability of these businesses is threatened due solely to their status as successor corporations by merger or consolidation based on actions taken prior to the 1972 adoption of asbestos regulations by the United States Occupational Safety and Health Administration;
(3) Over twenty (20) other states have enacted legislation similar to this subchapter to provide limits on successor asbestos-related liabilities for innocent successors; and
(4) The public interest as a whole is best served by limiting the successor asbestos-related liabilities of innocent successors so that they may remain viable.
