Terms Used In South Carolina Code > Title 11 > Chapter 47 - Tobacco Escrow Fund Act

• Affiliate: means a person who directly or indirectly owns or controls, is owned or controlled by, or is under common ownership or control with, another person. See South Carolina Code 11-47-20
• Allocable share: means allocable share as that term is defined in the Master Settlement Agreement. See South Carolina Code 11-47-20
• Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
• Appellate: About appeals; an appellate court has the power to review the judgement of another lower court or tribunal.
• cigarette: includes "roll-your-own" (any tobacco which, because of its appearance, type, packaging, or labeling is suitable for use and likely to be offered to, or purchased by, consumers as tobacco for making cigarettes). See South Carolina Code 11-47-20
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Master Settlement Agreement: means the settlement agreement and related documents entered into on November 23, 1998, by the State and leading United States tobacco product manufacturers. See South Carolina Code 11-47-20
• Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
• person: means an individual, partnership, committee, association, corporation, or any other organizations or group of persons. See South Carolina Code 11-47-20
• Released claims: means released claims as that term is defined in the Master Settlement Agreement. See South Carolina Code 11-47-20
• Releasing parties: means releasing parties as that term is defined in the Master Settlement Agreement. See South Carolina Code 11-47-20
• 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.
• Tobacco product manufacturer: means an entity that after the date of enactment of this act (and not exclusively through any affiliate):
  
  (1) manufactures cigarettes anywhere that such manufacturer intends to be sold in the United States, including cigarettes intended to be sold in the United States through an importer (except where such importer is an original participating manufacturer (as that term is defined in the Master Settlement Agreement) that will be responsible for the payments under the Master Settlement Agreement with respect to such cigarettes as a result of the provisions of subsection II(mm) of the Master Settlement Agreement and that pays the taxes specified in subsection II(z) of the Master Settlement Agreement, and provided that the manufacturer of such cigarettes does not market or advertise such cigarettes in the United States);
  
  (2) is the first purchaser anywhere for resale in the United States of cigarettes manufactured anywhere that the manufacturer does not intend to be sold in the United States; or
  
  (3) becomes a successor of an entity described in subitem (1) or (2). See South Carolina Code 11-47-20
• Units sold: means the number of individual cigarettes sold in the State by the applicable tobacco product manufacturer (whether directly or through a distributor, retailer, or similar intermediary or intermediaries) during the year in question, as measured by excise taxes collected by the State on packs (or "roll-your-own" tobacco containers). See South Carolina Code 11-47-20