Terms Used In Tennessee Code > Title 47 > Chapter 31 - Tobacco Manufacturers' Escrow Fund

• Adjusted for inflation: means increased in accordance with the formula for inflation adjustment set forth in exhibit C to the master settlement agreement. See Tennessee Code 47-31-102
• 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 Tennessee Code 47-31-102
• Allocable share: means allocable share as defined in the master settlement agreement. See Tennessee Code 47-31-102
• Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Cigarette: includes "roll-your-own" (i. See Tennessee Code 47-31-102
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Escrow: Money given to a third party to be held for payment until certain conditions are met.
• Master settlement agreement: means the settlement agreement, and related documents, entered into in the fall of 1998 by the state and leading United States tobacco product manufacturers. See Tennessee Code 47-31-102
• 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 organization or group of persons. See Tennessee Code 47-31-102
• Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
• Property: includes both personal and real property. See Tennessee Code 1-3-105
• Released claims: means released claims as defined in the master settlement agreement. See Tennessee Code 47-31-102
• Releasing parties: means releasing parties as defined in the master settlement agreement. See Tennessee Code 47-31-102
• Reporter: Makes a record of court proceedings and prepares a transcript, and also publishes the court's opinions or decisions (in the courts of appeals).
• 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: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
• Tobacco product manufacturer: means an entity that after May 26, 1999, directly and not exclusively through any affiliate:
  (i) 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 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 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). See Tennessee Code 47-31-102
• United States: includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
• Units sold: means the number of individual cigarettes sold to a consumer 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 regardless of whether the state excise tax was due or collected. See Tennessee Code 47-31-102
• Year: means a calendar year, unless otherwise expressed. See Tennessee Code 1-3-105