12E.2  Definitions.

As used in this chapter, unless the context otherwise requires:

1.  "Authority" means the tobacco settlement authority created in this chapter.

2.  "Board" means the governing board of the authority.

3.  "Bonds" means bonds, notes, and other obligations and financing arrangements issued or entered into by the authority pursuant to this chapter.

4.  "Financial institution" means a bank or credit union as defined in section 12C.1.

5.  "Master settlement agreement" means the master settlement agreement as defined in section 453C.1.

6.  "Notes" means notes, warrants, loan agreements, and all other forms of evidence of indebtedness authorized under this chapter.

7.  "Program plan" means the tobacco settlement program plan established in this chapter.

8.  "Qualified investments" means investments of the authority authorized by this chapter.

9.  "Sales agreement" means any agreement authorized pursuant to this chapter in which the state provides for the sale of all or a portion of the state's share to the authority.

10.  "State's share" means all of the state's monetary rights and interests, all rights of enforcement, and all rights necessary and convenient for enforcement of those monetary rights and interests in the master settlement agreement.

11.  "Tobacco settlement endowment fund" means the tobacco settlement endowment fund created in section 12.65.

12.  "Tobacco settlement trust fund" means the tobacco settlement trust fund created in this chapter.

Section History: Recent form

  2000 Acts, ch 1208, §2, 25; 2000 Acts, ch 1232, §13, 15

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