Current as of January 01, 2020 | Updated by FindLaw Staff
Welcome to FindLaw's Cases & Codes, a free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.
The General Assembly finds that:
(1) Asbestos-related claims threaten the continued viability of uniquely situated companies that have never manufactured, sold, or distributed asbestos or asbestos products and are liable only as successor corporations;
(2) The viability of these businesses is threatened due solely to their status as successor corporations by merger or consolidation based on actions taken prior to the 1972 adoption of asbestos regulations by the United States Occupational Safety and Health Administration;
(3) Over twenty (20) other states have enacted legislation similar to this subchapter to provide limits on successor asbestos-related liabilities for innocent successors; and
(4) The public interest as a whole is best served by limiting the successor asbestos-related liabilities of innocent successors so that they may remain viable.
Cite this article: FindLaw.com - Arkansas Code Title 16. Practice, Procedure, and Courts § 16-120-602. Legislative findings - last updated January 01, 2020 | https://codes.findlaw.com/ar/title-16-practice-procedure-and-courts/ar-code-sect-16-120-602/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.