Section 20-9-40 - Limitation where transferor assumed or incurred liabilities of prior transferor

20-9-40. Limitation where transferor assumed or incurred liabilities of prior transferor.If the transferor had assumed or incurred successor asbestos-related liabilities or liabilities in connection with a prior merger or consolidation with a prior transferor, then the fair market value of the total assets of the prior transferor determined as of the time of the earlier merger or consolidation shall be substituted for the limitation set forth in §20-9-39 for purposes of determining the limitation of liability of a successor corporation. Source: SL 2010, ch 110, §5.