§ 6-12-1 Legislative findings
§ 6-12-2 Definitions
§ 6-12-3 Election between settlement and escrow fund
§ 6-12-4 Limitation on bond requirements in litigation involving master settlement agreement signatories, successors, and affiliates

Terms Used In Alabama Code > Title 6 > Chapter 12

  • ADJUSTED FOR INFLATION: Increased in accordance with the formula for inflation adjustment set forth in Exhibit C to the Master Settlement Agreement. See Alabama Code 6-12-2
  • affiliate: A person who directly or indirectly owns or controls, is owned or controlled by, or is under common ownership or control with, another person. See Alabama Code 6-12-2
  • ALLOCABLE SHARE: Allocable share as that term is defined in the Master Settlement Agreement. See Alabama Code 6-12-2
  • cigarette: includes "roll-your-own" i. See Alabama Code 6-12-2
  • Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • Grand jury: agreement providing that a lender will delay exercising its rights (in the case of a mortgage,
  • importer: Any person in the United States to whom non-tax paid tobacco products or cigarette papers or tubes, or any processed tobacco, manufactured in a foreign country, Puerto Rico, the Virgin Islands, or a possession of the United States are shipped or consigned; any person who removes cigars or cigarettes for sale or consumption in the United States from a customs bonded manufacturing warehouse; and any person who smuggles or otherwise unlawfully brings tobacco products or cigarette papers or tubes, or any processed tobacco, into the United States. See Alabama Code 6-12-2
  • MASTER SETTLEMENT AGREEMENT: The settlement agreement, and related documents, entered into on November 23, 1998, by the state and leading United States tobacco product manufacturers. See Alabama Code 6-12-2
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • person: means an individual, partnership, committee, association, corporation, or any other organization or group of persons. See Alabama Code 6-12-2
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • QUALIFIED ESCROW FUND: An escrow arrangement with a federally or state chartered financial institution having no affiliation with any tobacco product manufacturer and having assets of at least one billion dollars ($1,000,000,000), where such arrangement requires that such financial institution hold the escrowed funds' principal for the benefit of releasing parties and prohibits the tobacco product manufacturer placing the funds into escrow from using, accessing, or directing the use of the funds' principal except as consistent with subdivision (2) of subsection (a) of Section 6-12-3. See Alabama Code 6-12-2
  • RELEASED CLAIMS: Released claims as that term is defined in the Master Settlement Agreement. See Alabama Code 6-12-2
  • RELEASING PARTIES: Releasing parties as that term is defined in the Master Settlement Agreement. See Alabama Code 6-12-2
  • TOBACCO PRODUCT MANUFACTURER: An entity that, after June 9, 1999, directly, and not exclusively through any affiliate:

    a. See Alabama Code 6-12-2

  • UNITS SOLD: The number of individual cigarettes sold in the state by the applicable tobacco product manufacturer, whether directly or through a distributor, retailer, or similar intermediary or intermediaries, during the year in question, as measured by excise taxes collected by the state on packs, or roll-your-own tobacco containers, bearing the excise tax stamp of the state. See Alabama Code 6-12-2