Section 42-133-16. – Annual report and audit.
§ 42-133-16. Annual report and audit. Within four (4) months after the end of each fiscal year, the board shall approve and submit an annual report to the governor, the speaker of the house of representatives, the president of the senate, and the secretary of state of its activities during that fiscal year. The report […]
Section 42-133-17. – Attorney general.
§ 42-133-17. Attorney general. Nothing in this chapter shall be construed as in any way modifying or limiting, and the state does hereby pledge to and agree with the holders of any bonds issued under this chapter that the state will not modify or limit, the responsibility of the attorney general to administer, protect and […]
Section 42-133-9. – Trust funds.
§ 42-133-9. Trust funds. All money received pursuant to the authority of this chapter, whether as provided from the sale of bonds or state’s tobacco receipts purchased by the corporation, or investment income, shall be trust funds to be held and applied solely as provided in the proceedings under which the bonds of the corporation […]
Section 42-133-1. – Short title.
§ 42-133-1. Short title. This chapter shall be known as the “Tobacco Settlement Financing Corporation Act.” History of Section.P.L. 2002, ch. 65, art. 8, § 1.
Section 42-133-2. – Purpose.
§ 42-133-2. Purpose. The purpose of this chapter is to authorize, create and establish a corporation empowered to acquire from the state that portion of the state’s tobacco receipts as the state is authorized to sell; to authorize the sale by the state of all or a portion of the state’s tobacco receipts to such […]
Section 42-133-3. – Definitions.
§ 42-133-3. Definitions. As used in this chapter, the following words and terms shall have the following meanings unless the context shall indicate another or different meaning or intent: (1) “Board” means the governing body of the corporation. (2) “Bonds” means bonds, notes (but only as provided in § 42-133-8(6)(e)), or other evidences of indebtedness […]
Section 42-133-4. – Creation — Powers — Construction of chapter — Termination.
§ 42-133-4. Creation — Powers — Construction of chapter — Termination. (a) There is hereby authorized, created and established, a public corporation of the state having a legal existence distinct from the state and not constituting a department of state government, to be known as the tobacco settlement financing corporation, with such powers as are […]
Section 42-133-5. – General powers.
§ 42-133-5. General powers. (a) The corporation shall have all the powers necessary and convenient to carry out and effectuate the purposes and provisions of this chapter, including, but not limited to, the power to: (1) Sue and be sued, complain and defend, in its corporate name; (2) Have a seal which may be altered […]
Section 42-133-6. – Board and officers.
§ 42-133-6. Board and officers. (a)(1) The powers of the corporation shall be vested in a board consisting of five (5) members, which shall constitute the governing body of the corporation, and which shall be comprised as follows: the state budget officer, who shall serve as chairperson; the general treasurer, or designee; the director of […]
Section 42-133-7. – Sale of state’s tobacco receipts.
§ 42-133-7. Sale of state’s tobacco receipts. (a) On or before June 30, 2002, the state shall sell and assign to and the corporation shall acquire all or a portion of the state’s tobacco receipts. The attorney general shall assist the governor in the preparation and review of all necessary documentation to effect such sale […]