51-15-3. Domestic or foreign corporation as successor; exemption from limitations.

The limitations contained in Code Section 51-15-4 apply to a domestic or foreign corporation that is a successor and became a successor before January 1, 1972, or is any of that successor corporation’s successor corporation.#

The limitations contained in Code Section 51-15-4 do not apply to:#

1. (1)

   Any claim against a corporation that does not constitute a successor asbestos related liability;#

2. (2)

   An insurance corporation;#

3. (3)

   Any obligations under the federal National Labor Relations Act or under any collective bargaining agreement; or#

4. (4)

   A successor that, after a merger or consolidation, continued 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.#