Maryland Code, BUSINESS REGULATION 16-502
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Terms Used In Maryland Code, BUSINESS REGULATION 16-502
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- 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.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(a) Violations of the Escrow Act, an act concerning nonparticipating manufacturers and deposits of funds into escrow accounts, threaten the integrity of the tobacco Master Settlement Agreement, the fiscal soundness of the State, and the public health.
(b) Enacting procedural enhancements will help prevent violations and aid the enforcement of the Escrow Act and thereby safeguard the Master Settlement Agreement, the fiscal soundness of the State, and the public health.
(c) The provisions of this subtitle are not intended to and may not be interpreted to amend the Escrow Act.