2013 Nevada Revised Statutes
Chapter 370A - Manufacturers of Tobacco Products
NRS 370A.150 - Deposits into escrow: Disposition of interest; release of principal. [Effective through December 31, 2013, or until the date a court of competent jurisdiction enters a judgment determining that subsection 2 of this section is unconstitutional, whichever is sooner.]

A manufacturer of tobacco products that deposits money into escrow pursuant to subsection 2 of NRS 370A.140 shall receive the interest or other appreciation on the deposit as earned. The principal of the deposit may be released from escrow only under the following circumstances:

1. To pay a judgment or settlement on a released claim brought against that manufacturer by this State or by a releasing party located or residing in this State. Money may be released from escrow under this subsection only in the order in which it was deposited into escrow and only to the extent and at the time necessary to make payments required under the judgment or settlement.

2. To the extent that the manufacturer establishes that the amount it was required to deposit into escrow on account of units sold in the State in a particular year was greater than the Master Settlement Agreement payments, as determined pursuant to section IX(i) of that Agreement including after final determination of all adjustments, that such manufacturer would have been required to make on account of such units sold if the manufacturer had been a participating manufacturer, the excess must be released from escrow and revert to the manufacturer.

3. To the extent not released from escrow under subsection 1 or 2, deposits must be released from escrow and revert to the manufacturer 25 years after the date on which they were deposited.

(Added to NRS by 1999, 1108; A 2005, 379)

NRS 370A.150 Deposits into escrow: Disposition of interest; release of principal. [Effective January 1, 2014, if a court of competent jurisdiction has not before that date entered a judgment determining that subsection 2 of this section is unconstitutional, until the date such a judgment is entered.] A manufacturer of tobacco products that deposits money into escrow pursuant to subsection 2 of NRS 370A.140 shall receive the interest or other appreciation on the deposit as earned. The principal of the deposit may be released from escrow only under the following circumstances:

1. To pay a judgment or settlement on a released claim brought against that manufacturer by this State or by a releasing party located or residing in this State. Money may be released from escrow under this subsection only in the order in which it was deposited into escrow and only to the extent and at the time necessary to make payments required under the judgment or settlement.

2. To the extent that the manufacturer establishes that the amount it was required to deposit into escrow on account of units sold in the State in a particular year was greater than the Master Settlement Agreement payments, as determined pursuant to section IX(i) of that Agreement including after final determination of all adjustments, that such manufacturer would have been required to make on account of such units sold if the manufacturer had been a participating manufacturer, the excess must be released from escrow and revert to the manufacturer.

3. In accordance with the provisions of NRS 370A.157.

4. To the extent not released from escrow under subsection 1, 2 or 3, deposits must be released from escrow and revert to the manufacturer 25 years after the date on which they were deposited.

(Added to NRS by 1999, 1108; A 2005, 379; 2013, 2666, effective January 1, 2014, if a court of competent jurisdiction has not before that date entered a judgment determining that subsection 2 of this section is unconstitutional, until the date such a judgment is entered)

NRS 370A.150 Deposits into escrow: Disposition of interest; release of principal. [Effective from the date a court of competent jurisdiction enters a judgment determining that former subsection 2 of this section is unconstitutional, if such a judgment is entered on or before December 31, 2013, through the earlier of December 31, 2013, or the date such a court of competent jurisdiction enters a judgment determining that the repeal of former subsection 2 of this section is unconstitutional.] A manufacturer of tobacco products that deposits money into escrow pursuant to subsection 2 of NRS 370A.140 shall receive the interest or other appreciation on the deposit as earned. The principal of the deposit may be released from escrow only under the following circumstances:

1. To pay a judgment or settlement on a released claim brought against that manufacturer by this State or by a releasing party located or residing in this State. Money may be released from escrow under this subsection only in the order in which it was deposited into escrow and only to the extent and at the time necessary to make payments required under the judgment or settlement.

2. To the extent not released from escrow under subsection 1, deposits must be released from escrow and revert to the manufacturer 25 years after the date on which they were deposited.

(Added to NRS by 1999, 1108; A 2005, 379, 380, effective from the date a court of competent jurisdiction enters a judgment determining that former subsection 2 of this section is unconstitutional, if such a judgment is entered on or before December 31, 2013, through the earlier of December 31, 2013, or the date such a court of competent jurisdiction enters a judgment determining that the repeal of former subsection 2 of this section is unconstitutional)

NRS 370A.150 Deposits into escrow: Disposition of interest; release of principal. [Effective January 1, 2014, if a court of competent jurisdiction, on or before December 31, 2013, enters a judgment determining that subsection 2 of this section is unconstitutional, until the date such a court enters a judgment determining that the repeal of former subsection 2 of this section is unconstitutional, or effective from the date a court of competent jurisdiction, on or after January 1, 2014, enters a judgment determining that former subsection 2 of this section is unconstitutional until the date such a court enters a judgment determining that the repeal of former subsection 2 of this section is unconstitutional.] A manufacturer of tobacco products that deposits money into escrow pursuant to subsection 2 of NRS 370A.140 shall receive the interest or other appreciation on the deposit as earned. The principal of the deposit may be released from escrow only under the following circumstances:

1. To pay a judgment or settlement on a released claim brought against that manufacturer by this State or by a releasing party located or residing in this State. Money may be released from escrow under this subsection only in the order in which it was deposited into escrow and only to the extent and at the time necessary to make payments required under the judgment or settlement.

2. In accordance with the provisions of NRS 370A.157.

3. To the extent not released from escrow under subsection 1 or 2, deposits must be released from escrow and revert to the manufacturer 25 years after the date on which they were deposited.

(Added to NRS by 1999, 1108; A 2005, 379, 380; 2013, 2666, effective January 1, 2014, if a court of competent jurisdiction, on or before December 31, 2013, enters a judgment determining that subsection 2 of this section is unconstitutional, until the date such a court enters a judgment determining that the repeal of former subsection 2 of this section is unconstitutional, or effective from the date a court of competent jurisdiction, on or after January 1, 2014, enters a judgment determining that former subsection 2 of this section is unconstitutional until the date such a court enters a judgment determining that the repeal of former subsection 2 of this section is unconstitutional)

NRS 370A.150 Deposits into escrow: Disposition of interest; release of principal. [Effective on the date a court of competent jurisdiction enters a judgment determining that the repeal of former subsection 2 of this section is unconstitutional, through December 31, 2013, if such a judgment is entered on or before December 31, 2013.] A manufacturer of tobacco products that deposits money into escrow pursuant to subsection 2 of NRS 370A.140 shall receive the interest or other appreciation on the deposit as earned. The principal of the deposit may be released from escrow only under the following circumstances:

1. To pay a judgment or settlement on a released claim brought against that manufacturer by this State or by a releasing party located or residing in this State. Money may be released from escrow under this subsection only in the order in which it was deposited into escrow and only to the extent and at the time necessary to make payments required under the judgment or settlement.

2. To the extent that the manufacturer establishes that the amount it was required to deposit into escrow in a particular year was greater than this State s allocable share of the total payments that the manufacturer would have been required to make in that year under the Master Settlement Agreement if the manufacturer had been a participating manufacturer, as such payments are determined pursuant to section IX(i)(2) of that Agreement and before any of the adjustments or offsets described in section IX(i)(3) of that Agreement other than the inflation adjustment, the excess must be released from escrow and revert to the manufacturer.

3. To the extent not released from escrow under subsection 1 or 2, deposits must be released from escrow and revert to the manufacturer 25 years after the date on which they were deposited.

(Added to NRS by 1999, 1108; A 2005, 379, 380, effective on the date a court of competent jurisdiction enters a judgment determining that the repeal of former subsection 2 of this section is unconstitutional, through December 31, 2013, if such a judgment is entered on or before December 31, 2013)

NRS 370A.150 Deposits into escrow: Disposition of interest; release of principal. [Effective January 1, 2014, if a court of competent jurisdiction, on or before December 31, 2013, enters a judgment determining that the repeal of former subsection 2 of this section is unconstitutional, or effective from the date a court of competent jurisdiction, on or after January 1, 2014, enters such a judgment.] A manufacturer of tobacco products that deposits money into escrow pursuant to subsection 2 of NRS 370A.140 shall receive the interest or other appreciation on the deposit as earned. The principal of the deposit may be released from escrow only under the following circumstances:

1. To pay a judgment or settlement on a released claim brought against that manufacturer by this State or by a releasing party located or residing in this State. Money may be released from escrow under this subsection only in the order in which it was deposited into escrow and only to the extent and at the time necessary to make payments required under the judgment or settlement.

2. To the extent that the manufacturer establishes that the amount it was required to deposit into escrow in a particular year was greater than this State s allocable share of the total payments that the manufacturer would have been required to make in that year under the Master Settlement Agreement if the manufacturer had been a participating manufacturer, as such payments are determined pursuant to section IX(i)(2) of that Agreement and before any of the adjustments or offsets described in section IX(i)(3) of that Agreement other than the inflation adjustment, the excess must be released from escrow and revert to the manufacturer.

3. In accordance with the provisions of NRS 370A.157.

4. To the extent not released from escrow under subsection 1 or 2, deposits must be released from escrow and revert to the manufacturer 25 years after the date on which they were deposited.

(Added to NRS by 1999, 1108; A 2005, 379, 380; 2013, 2666, effective January 1, 2014, if a court of competent jurisdiction, on or before December 31, 2013, enters a judgment determining that the repeal of former subsection 2 of this section is unconstitutional, or effective from the date a court of competent jurisdiction, on or after January 1, 2014, enters such a judgment)