Okla. Stat. tit. 76, § 76-103: Definitions
Where this section sits in the code
- OK Code
- Title 76
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
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 asbestos-
containing 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.
Collected 2026-09-14T18:32:36Z. Source file · JSON