Montana Code 16-11-508. Escrow installments
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16-11-508. Escrow installments. To promote compliance with the provisions of this part, the attorney general may adopt rules requiring a tobacco product manufacturer to make the escrow deposits required in 16-11-403 in installments during the year in which the sales covered by the deposits are made. The attorney general may require production of information sufficient to enable the attorney general to determine the adequacy of the amount of the installment deposit. (Certain provisions void on occurrence of contingency–sec. 16, Ch. 397, L. 2003–see part compiler’s comment.)
Terms Used In Montana Code 16-11-508
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- Manufacturer: means any person who fabricates tobacco products from raw materials for the purpose of resale. See Montana Code 16-11-102
- Tobacco product: means cigarettes and all other products containing tobacco that are intended for human consumption or use. See Montana Code 16-11-102