Nevada Revised Statutes 370A.140 – Participation in Master Settlement Agreement or deposits into qualified escrow fund required
A manufacturer of tobacco products that sells cigarettes to consumers in this state, directly or through a distributor, retailer or similar intermediary or intermediaries, after May 24, 1999, shall do one of the following:
Terms Used In Nevada Revised Statutes 370A.140
- 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.
1. Become a participating manufacturer and generally perform its financial obligations under the Master Settlement Agreement; or
2. Deposit into a qualified escrow fund, on or before April 15 of the year following the year in question, the following amounts as such amounts are adjusted for inflation:
(a) For the year 1999, $0.0094241 for each unit sold after May 24, 1999;
(b) For the year 2000, $0.0104712 for each unit sold;
(c) For each of the years 2001 and 2002, $0.0136125 for each unit sold;
(d) For each of the years 2003 through 2006, $0.0167539 for each unit sold; and
(e) For each of the year 2007 and each year thereafter, $0.0188482 for each unit sold.