Terms Used In Texas Government Code 403.501

  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.

In this subchapter:
(1) “Account” means the opioid abatement account established by § 403.505.
(2) “Council” means the Texas opioid abatement fund council established by § 403.503 to manage the distribution of money allocated to the council from the opioid abatement trust fund in accordance with a statewide opioid settlement agreement.
(3) “Fund” means the opioid abatement trust fund established by § 403.506.
(4) “Released entity” means an entity against which a claim is released under a statewide opioid settlement agreement.
(5) “Statewide opioid settlement agreement” means all settlement agreements and related documents entered into by this state through the attorney general, political subdivisions that have brought a civil action for an opioid-related harm claim against an opioid manufacturer, distributor, or retailer, and opioid manufacturers, distributors, or retailers relating to illegal conduct in the marketing, promotion, sale, distribution, and dispensation of opioids that provide relief for this state and political subdivisions of this state.
(6) “Trust company” means the Texas Treasury Safekeeping Trust Company.