Home Table of Contents

§ 8368.1. Legislative findings and declaration

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 42 Pa.C.S.A. Judiciary and Judicial ProcedureEffective: July 2, 2014

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 42 Pa.C.S.A. Judiciary and Judicial Procedure (Refs & Annos)
Part VII. Civil Actions and Proceedings
Chapter 83. Particular Rights and Immunities (Refs & Annos)
Subchapter F.1. Successor Business Entity Liability
Effective: July 2, 2014
42 Pa.C.S.A. § 8368.1
§ 8368.1. Legislative findings and declaration
Currentness
(a) Findings.--The General Assembly finds that:
(1) Asbestos-related claims threaten the continued viability of successor business entities which are formed or organized under the laws of this Commonwealth or another jurisdiction that have never manufactured, sold or distributed asbestos or asbestos-containing products.
(2) It is in the best interest of this Commonwealth to ensure the economic viability of the entities under paragraph (1).
(3) The viability of the domestic and foreign business entities under paragraph (1) is threatened due solely to their status as successor business entities by merger or consolidation based on actions taken prior to the 1972 adoption of asbestos regulations by the Occupational Safety and Health Administration.
(4) The cumulative recovery by all asbestos claimants from innocent successor business entities should be limited.
(b) Intent.--It is the intent of the General Assembly to expand the protections granted in 15 Pa.C.S. § 1929.1 (relating to limitations on asbestos-related liabilities relating to certain mergers or consolidations) to successor business entities which are formed or organized under the laws of this Commonwealth or another jurisdiction.

Credits

2014, July 2, P.L. 1000, No. 112, § 1, imd. effective.
42 Pa.C.S.A. § 8368.1, PA ST 42 Pa.C.S.A. § 8368.1
Current through Act 13 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
End of Document