SUCCESSOR ASBESTOS-RELATED ACT Senate SponsorsSen. Rickey R. Hendon-Kirk W. Dillard, Dave Syverson and Pamela J. Althoff 1/9/2007SenateSession Sine Die New ActCreates the Successor Asbestos-Related Liability Fairness Act. Limits the cumulative successor asbestos-related liabilities of a corporation to the fair market value of the total gross assets of the transferor determined as of the time of the merger or consolidation. Provides that a corporation is not responsible for successor asbestos-related liabilities in excess of that limitation. Provides guidelines for establishing the fair market value of the total gross assets for the purpose of the liability limitation.Senate Committee Amendment No. 1 Replaces everything after the enacting clause. Creates the Successor Asbestos-Related Liability Fairness Act. Contains a short title only. 1/20/2006SenateFiled with Secretary by Sen. Rickey R. Hendon 1/20/2006SenateChief Co-Sponsor Sen. Kirk W. Dillard 1/20/2006SenateFirst Reading 1/20/2006SenateReferred to Rules 2/1/2006SenateAssigned to Commerce & Economic Development 2/1/2006SenateAdded as Co-Sponsor Sen. Dave Syverson 2/2/2006SenateAdded as Co-Sponsor Sen. Pamela J. Althoff 2/14/2006SenateSenate Committee Amendment No. 1 Filed with Secretary by Sen. Rickey R. Hendon 2/14/2006SenateSenate Committee Amendment No. 1 Referred to Rules 2/15/2006SenateSenate Committee Amendment No. 1 Rules Refers to Commerce & Economic Development 2/16/2006SenateSenate Committee Amendment No. 1 Adopted 2/16/2006SenateDo Pass as Amended Commerce & Economic Development; 009-000-000 2/16/2006SenatePlaced on Calendar Order of 2nd Reading February 22, 2006 2/27/2006SenateSecond Reading 2/27/2006SenatePlaced on Calendar Order of 3rd Reading February 28, 2006 3/2/2006SenateRule 2-10 Third Reading Deadline Extended to January 9, 2007 6/4/2006SenatePursuant to Senate Rule 3-9(b) / Referred to Rules 1/9/2007SenateSession Sine Die