29 U.S.C. § 1369 : US Code - Section 1369: Treatment of transactions to evade liability; effect of corporate reorganization

Search 29 U.S.C. § 1369 : US Code - Section 1369: Treatment of transactions to evade liability; effect of corporate reorganization

(a) Treatment of transactions to evade liability
If a principal purpose of any person in entering into any
transaction is to evade liability to which such person would be
subject under this subtitle and the transaction becomes effective
within five years before the termination date of the termination on
which such liability would be based, then such person and the
members of such person's controlled group (determined as of the
termination date) shall be subject to liability under this subtitle
in connection with such termination as if such person were a
contributing sponsor of the terminated plan as of the termination
date. This subsection shall not cause any person to be liable under
this subtitle in connection with such plan termination for any
increases or improvements in the benefits provided under the plan
which are adopted after the date on which the transaction referred
to in the preceding sentence becomes effective.
(b) Effect of corporate reorganization
For purposes of this subtitle, the following rules apply in the
case of certain corporate reorganizations:
(1) Change of identity, form, etc.
If a person ceases to exist by reason of a reorganization which
involves a mere change in identity, form, or place of
organization, however effected, a successor corporation resulting
from such reorganization shall be treated as the person to whom
this subtitle applies.
(2) Liquidation into parent corporation
If a person ceases to exist by reason of liquidation into a
parent corporation, the parent corporation shall be treated as
the person to whom this subtitle applies.
(3) Merger, consolidation, or division
If a person ceases to exist by reason of a merger,
consolidation, or division, the successor corporation or
corporations shall be treated as the person to whom this subtitle
applies.