Tennessee § 29-34-504 - Limitations on cumulative successor asbestos-related liabilities.
Full text of Tennessee Tennessee Code Annotated § 29-34-504 — Limitations on cumulative successor asbestos-related liabilities., with citation guidance and answers to common questions.
§ 29-34-504. Limitations on cumulative successor asbestos-related liabilities.
Except as otherwise provided in subsection (b), the cumulative successor asbestos-related liabilities of a successor 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 successor corporation does not have responsibility for successor asbestos-related liabilities in excess of this limitation. If the transferor had assumed or incurred successor asbestos-related 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 subsection (a) for purposes of determining the limitation of liability of a successor corporation. Acts 2013, ch. 246, § 5. Effective Dates. Acts 2013, ch. 246, § 9. July 1, 2013.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 29-34-504
What does Tennessee Code Annotated § 29-34-504 cover?
Section 29-34-504 ("Limitations on cumulative successor asbestos-related liabilities.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. 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 Tennessee § 29-34-504?
A common citation format is "Tennessee Code Annotated § 29-34-504" (Tennessee). 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 Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 29-34-504 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee 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 Tennessee.