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6-5-680
Section 6-5-680 Definitions. For the purposes of this article, the following words shall have
the following meanings: (1) ASBESTOS CLAIM. Any claim, wherever or whenever made, for damages,
losses, indemnification, contribution, or other relief arising out of, based on, or in any
way related to asbestos, including: a. The health effects of exposure to asbestos, including
any claim for: 1. Personal injury or death. 2. Mental or emotional injury.
3. Risk of disease or other injury. 4. The costs of medical monitoring or surveillance,
to the extent these claims are recognized under state law. b. Any claim made by or on behalf
of a person exposed to asbestos, or a representative, spouse, parent, child, or other relative
of the person. c. Any claim for damage or loss caused by the installation, presence, or removal
of asbestos. (2) CORPORATION. A corporation for profit, including a domestic corporation organized
under the laws of this state, or a foreign corporation organized under laws other...
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6-5-682
Section 6-5-682 Limitations of liability. (a) Except as further limited in subsection (b),
the cumulative successor asbestos-related liabilities of a corporation are limited to the
fair market value of the total gross assets of the transferor determined as of the time of
the merger or consolidation. The corporation does not have any responsibility for successor
asbestos-related liabilities in excess of this limitation. (b) If the transferor had assumed
or incurred successor asbestos-related liabilities in connection with a prior merger or consolidation
with a prior transferor, 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 subsection (a) for purposes of determining the limitation of liability
of a corporation. (Act 2011-545, p. 1001, ยง3.)...
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6-5-681
Section 6-5-681 Applicability of limitations. (a) The limitations in Section 6-5-682 apply
to a corporation that is a successor and became a successor before January 1, 1972, or is
any of that successor corporation's successors. (b) The limitations in Section 6-5-682 do
not apply to: (1) Workers' compensation benefits paid by or on behalf of an employer to an
employee under the laws of this state or a comparable workers' compensation law of another
jurisdiction. (2) Any claim against a corporation that does not constitute a successor asbestos-related
liability. (3) An insurer, as defined in Section 27-1-2. (4) Any obligations under the National
Labor Relations Act, as amended, or under any collective bargaining agreement. (5) 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...
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6-5-684
Section 6-5-684 Adjustment of fair market value of total gross assets. (a) Except as provided
in subsections (b), (c), and (d), the fair market value of total gross assets at the time
of a merger or consolidation shall increase annually at a rate equal to the sum of: (1) The
prime rate as listed in the first edition of the Wall Street Journal published for each calendar
year since the merger or consolidation, unless the prime rate is not published in that edition
of the Wall Street Journal, in which case any reasonable determination of the prime rate on
the first day of the year may be used. (2) One percent. (b) The rate in subsection (a) may
not be compounded. (c) The adjustment of fair market value of total gross assets shall continue
as provided under subsection (a) until the date the adjusted value is first exceeded by the
cumulative amounts of successor asbestos-related liabilities paid or committed to be paid
by or on behalf of the corporation or a predecessor, or by or on behalf...
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28-9-2
ownership interest in the wholesaler under the terms of the deceased individual's will, or
under the laws of intestate succession of this state; or any person who or entity which has
otherwise, by designation in writing by the deceased individual, succeeded the deceased individual
in the wholesaler's business, or has succeeded to the deceased individual's ownership interest
in the wholesaler pursuant to a written contract or instrument; and also includes the appointed
and qualified personal representative and the testamentary trustee of a deceased individual
owning an ownership interest in a wholesaler. Designated member also includes the person appointed
by a court as the guardian or conservator of the property of an incapacitated individual owning
an ownership interest in a wholesaler. (4) GOOD FAITH. Honesty in fact and the observance
of reasonable commercial standards of fair dealing in the trade, as defined in and interpreted
under the Uniform Commercial Code, Section...
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45-2-22.02
ownership interest in the wholesaler under the terms of the deceased individual's will, or
under the laws of intestate succession of this state; or any person who or entity which has
otherwise by designation in writing by the deceased individual, succeeded the deceased individual
in the wholesaler's business, or has succeeded to the deceased individual's ownership interest
in the wholesaler pursuant to a written contract or instrument; and also includes the appointed
and qualified personal representative and the testamentary trustee of a deceased individual
owning an ownership interest in a wholesaler. Designated member also includes a person appointed
by the court as the guardian or conservator of the property of an incapacitated individual
owning an ownership interest in a wholesaler. (4) GOOD FAITH. Honesty in fact and the observance
of reasonable commercial standards of fair dealing in the trade, as defined in and interpreted
under the Uniform Commercial Code, Section...
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45-37-21.03
individual in the wholesaler under the terms of the will of the deceased individual, or under
the laws of intestate succession of this state; or any person who or entity which has otherwise
by designation in writing by the deceased individual, succeeded the deceased individual in
the business of the wholesaler, or has succeeded to the ownership interest of the deceased
individual in the wholesaler pursuant to a written contract or instrument; and also includes
the appointed and qualified personal representative and the testamentary trustee of
a deceased individual owning an ownership interest in a wholesaler. Designated member also
includes a person appointed by the court as the guardian or conservator of the property of
an incapacitated individual owning an ownership interest in a wholesaler. (4) GOOD FAITH.
Honesty in fact and the observance of reasonable commercial standards of fair dealing in the
trade, as defined in and interpreted under the Uniform Commercial Code, Section...
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45-49-23.01
ownership interest in the wholesaler under the terms of the deceased individual's will, or
under the laws of intestate succession of this state; or any person who or entity which has
otherwise by designation in writing by the deceased individual, succeeded the deceased individual
in the wholesaler's business, or has succeeded to the deceased individual's ownership interest
in the wholesaler pursuant to a written contract or instrument; and also includes the appointed
and qualified personal representative and the testamentary trustee of a deceased individual
owning an ownership interest in a wholesaler. Designated member also includes a person appointed
by the court as the guardian or conservator of the property of an incapacitated individual
owning an ownership interest in a wholesaler. (4) GOOD FAITH. Honesty in fact and the observance
of reasonable commercial standards of fair dealing in the trade, as defined in and interpreted
under the Uniform Commercial Code, Section...
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40-18-39
Section 40-18-39 Corporate returns. (a) Except as provided in subsection (c), every corporation,
joint stock company, or association subject to income tax under this chapter shall file a
return with the Department of Revenue for each taxable year, stating specifically the items
of its gross income and the deductions and credits allowed by this chapter. In cases where
receivers, trustees in bankruptcy, or assignees are operating the property or business of
corporations, such receivers, trustees, or assignees shall file returns for such corporations
in the same manner and form as corporations are required to file returns. Any tax due on the
basis of such returns filed by receivers, trustees, or assignees shall be collected in the
same manner as if collected from the corporations of whose business or property they have
custody and control. Returns shall be filed by the same date as the corresponding federal
income tax returns are required to be filed as provided under federal law. The...
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27-61-1
functions. 5. CORPORATE RECORDS OF THE COMMISSION The Commission shall maintain its corporate
books and records in accordance with the Bylaws. 6. QUALIFIED IMMUNITY, DEFENSE, AND INDEMNIFICATION
a. The Members, officers, executive director, employees, and representatives of the Commission,
the Executive Committee, and any other Committee of the Commission shall be immune from suit
and liability, either personally or in their official capacity, for any claim for damage to
or loss of property or personal injury or other civil liability caused by or
arising out of any actual or alleged act, error, or omission that occurred, or that the person
against whom the claim is made had a reasonable basis for believing occurred within the scope
of Commission employment, duties, or responsibilities; provided that nothing in this paragraph
shall be construed to protect any such person from suit and/or liability for any damage, loss,
injury, or liability caused by the intentional or willful or wanton...
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