2019 Nevada Revised Statutes
Chapter 370A - Manufacturers of Tobacco Products
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 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 from the date a court of competent jurisdiction 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)
