Indiana § 34-31-8-8 - Limited cumulative successor asbestos related liabilities
Full text of Indiana Indiana Code § 34-31-8-8 — Limited cumulative successor asbestos related liabilities, with citation guidance and answers to common questions.
§ 34-31-8-8. Limited cumulative successor asbestos related liabilities
Sec. 8. (a) Subject to subsections (c) and (d) and sections 10 and 12 of this chapter, the cumulative successor asbestos related liabilities of an innocent successor corporation are limited to the fair market value of the total gross assets of the transferor corporation, determined as of the time of the merger or consolidation through which the innocent successor corporation assumed or incurred successor asbestos related liability.
(b) An innocent successor corporation is not responsible for successor asbestos related liability in excess of the limitation set forth in subsection (a).
(c) For purposes of this section, if a transferor corporation assumed or incurred successor asbestos related liability in connection with a merger or consolidation with a prior transferor corporation, the fair market value of the total gross assets of the prior transferor corporation determined as of the time of the earlier merger or consolidation shall be substituted for the limitation set forth in subsection (a) to determine the limitation of liability of the innocent successor corporation.
(d) Cumulative successor asbestos related liabilities include liabilities that exist after the merger or consolidation of the innocent successor corporation and the transferor corporation and that are paid or discharged by or on behalf of the:
(1) innocent successor corporation; or
(2) transferor corporation;
as part of a settlement or judgment in Indiana or another jurisdiction.
As added by P.L.134-2009, SEC.6.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 34-31-8-8
What does Indiana Code § 34-31-8-8 cover?
Section 34-31-8-8 ("Limited cumulative successor asbestos related liabilities") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 34-31-8-8?
A common citation format is "Indiana Code § 34-31-8-8" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 34-31-8-8 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.