Kentucky Statutes 248.701 – Definitions for KRS 248.701 to 248.727
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As used in KRS § 248.701 to KRS § 248.727, unless the context requires otherwise:
(1) “Board” means the Agricultural Development Board created by KRS § 248.707;
(2) “Fund” means the agricultural development fund established in KRS § 248.655 as the
“Rural Development Fund;”
(3) “Subcommittee” means the Tobacco Settlement Agreement Fund Oversight
Committee created by KRS § 248.723;
(4) “Council” means an agricultural development council required by KRS § 248.721;
(5) “Master Settlement Agreement” means the settlement agreement dated November
23, 1998, entered into by the Commonwealth of Kentucky and major United States tobacco product manufacturers; and
(6) “Phase II Agreement” means the National Tobacco Grower Settlement Trust Agreement dated July 19, 1999, entered into by tobacco states and major tobacco companies to compensate tobacco growers and quota owners for losses resulting from the Master Settlement Agreement.
Effective: April 26, 2000
History: Created 2000 Ky. Acts ch. 530, sec. 1, effective April 26, 2000.
(1) “Board” means the Agricultural Development Board created by KRS § 248.707;
Terms Used In Kentucky Statutes 248.701
- Grower: means a bona fide producer of tobacco, either by himself or by tenant, sharecropper or hired person. See Kentucky Statutes 248.010
- 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.
(2) “Fund” means the agricultural development fund established in KRS § 248.655 as the
“Rural Development Fund;”
(3) “Subcommittee” means the Tobacco Settlement Agreement Fund Oversight
Committee created by KRS § 248.723;
(4) “Council” means an agricultural development council required by KRS § 248.721;
(5) “Master Settlement Agreement” means the settlement agreement dated November
23, 1998, entered into by the Commonwealth of Kentucky and major United States tobacco product manufacturers; and
(6) “Phase II Agreement” means the National Tobacco Grower Settlement Trust Agreement dated July 19, 1999, entered into by tobacco states and major tobacco companies to compensate tobacco growers and quota owners for losses resulting from the Master Settlement Agreement.
Effective: April 26, 2000
History: Created 2000 Ky. Acts ch. 530, sec. 1, effective April 26, 2000.