Rhode Island § 42-133-3 - Tobacco Settlement Financing Corporation Act

§ 42-133-3. Definitions.

As used in this chapter, the following words and terms shall have the following meanings unless the context shall indicate another or different meaning or intent:

(1) “Board” means the governing body of the corporation.

(2) “Bonds” means bonds, notes (but only as provided in § 42-133-8(6)(e)), or other evidences of indebtedness of the corporation, all of which shall be in all events payable solely from and secured solely by such portion of the state’s tobacco receipts as are sold to the corporation and pledged to secure the bonds, and issued pursuant to the authorizations contained in this chapter, all of which shall be issued under the name of or known as obligations of the corporation.

(3) “Corporation” means the corporation authorized, created, and established pursuant to this chapter.

(4) “Escrow” means the escrow as that term is defined in the master settlement agreement.

(5) “Escrow agent” means the escrow agent as that term is defined in the master settlement agreement.

(6) “Independent auditor” means the independent auditor as that term is defined in the master settlement agreement.

(7) “Master settlement agreement” means the settlement agreement and related documents entered into on November 23, 1998, by the state and the four (4) principal United States tobacco product manufacturers, as amended and supplemented.

(8) “Participating manufacturers” means the participating manufacturers as that term is defined in the master settlement agreement.

(9) “Qualifying statute” means chapter 71 of title 23 enacted March 30, 2001 and applied retroactively to June 29, 1999, in conformity with exhibit T of the master settlement agreement.

(10) “State” means the state of Rhode Island.

(11) “State’s tobacco receipts” means all of the payments to be made by the escrow agent and derived from payments made by the participating manufacturers and allocated to the state under the master settlement agreement, other than pursuant to Article XVII of the master settlement agreement.