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

   (a) 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.

(b) The limitations contained in Code Section 51-15-4 do not apply to:

   (1) Any claim against a corporation that does not constitute a successor asbestos related liability;

   (2) An insurance corporation;

   (3) Any obligations under the federal National Labor Relations Act or under any collective bargaining agreement; or

   (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.

Code 1981, § 51-15-3, enacted by Ga. L. 2007, p. 4, § 2/SB 182.