South Dakota Codified Laws 10-50B-18. Cigarette importers–Tobacco product manufacturer–Joint and several liability–Escrow fund
Current as of: 2023 | Check for updates
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Any person that imports cigarettes into the United States shall be jointly and severally liable with any tobacco product manufacturer required to place a deposit into a qualified escrow fund pursuant to subdivision 10-50B-7 (2) for the obligation to make the deposit into the qualified escrow fund.
Terms Used In South Dakota Codified Laws 10-50B-18
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- 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.
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
Source: SL 2020, ch 36, § 1.