1. (a) As used in this chapter, "innocent successor corporation" means a corporation that:

   1. (1) assumes;
   2. (2) incurs;
   3. (3) has assumed; or

   4. (4) has incurred;

      successor asbestos related liability and became a successor corporation due to a merger or consolidation with another corporation before January 1, 1972.

2. (b) The term includes a corporation into which an innocent successor corporation is at any time subsequently merged or consolidated.

3. (c) The term does not include a corporation that, after a merger, a consolidation, or the exercise of control or the ownership of stock of the corporation before the merger or consolidation, continues in the business of:

   1. (1) mining asbestos;
   2. (2) selling or distributing asbestos fibers; or
   3. (3) manufacturing, distributing, removing, or installing asbestos containing products that are the same, or substantially the same, as those products previously manufactured, distributed, removed, or installed by the transferor corporation.

As added by P.L.134-2009, SEC.6.