Oklahoma § 76-103 - Definitions

§ 76-103. Definitions

DEFINITIONS. As used in the Innocent Successor Asbestos-Related

Liability Fairness Act:

1. "Asbestos claim" means 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, or

(4) the costs of medical monitoring or surveillance,

b.

any claim made by or on behalf of any person exposed

to asbestos, or a representative, spouse, parent,

child, or other relative of the person, and

c.

any claim for damage or loss caused by the

installation, presence, or removal of asbestos;

2. "Corporation" means a corporation for profit, including a

domestic corporation organized under the laws of this state, or a

foreign corporation organized under laws other than the laws of this

state;

3. "Innocent successor" means a corporation that assumes or

incurs or has assumed or incurred successor asbestos-related

liabilities that is a successor and became a successor before

January 1, 1972, or is any of that successor corporation's

successors, and that after a merger or consolidation did not

Oklahoma Statutes - Title 76. Torts

continue 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 asbestoscontaining products that were the same or substantially the same as

those products previously manufactured, distributed, removed, or

installed by the transferor;

4. "Successor asbestos-related liabilities" means any

liabilities, whether known or unknown, asserted or unasserted,

absolute or contingent, accrued or unaccrued, liquidated or

unliquidated, or due or to become due, which are related to asbestos

claims and were assumed or incurred by a corporation as a result of

or in connection with a merger or consolidation, or the plan of

merger or consolidation related to the merger or consolidation with

or into another corporation, or that are related in any way to

asbestos claims based on the exercise of control or the ownership of

stock of the corporation before the merger or consolidation. The

term includes liabilities that, after the time of the merger or

consolidation for which the fair market value of total gross assets

is determined pursuant to Section 6 of this act, were or are paid or

otherwise discharged, or committed to be paid or otherwise

discharged, by or on behalf of the corporation, or by a successor of

the corporation, or by or on behalf of a transferor, in connection

with settlements, judgments, or other discharges in this state or

another jurisdiction; and

5. "Transferor" means a corporation from which successor

asbestos-related liabilities are or were assumed or incurred.

Added by Laws 2013, 1st Ex.Sess., c. 22, § 3, emerg. eff. Sept. 10,

2013.

NOTE: Text formerly resided under repealed Title 76, § 73, which

was derived from Laws 2009, c. 228, § 67, which was held

unconstitutional by the Oklahoma Supreme Court in the case of

Douglas v. Cox Retirement Properties, Inc., 2013 OK 37, 302 P.2d 789

(Okla. 2013).