South Dakota Codified Laws
Chapter 50B - Escrow Fund For Tobacco Litigation
Section 10-50B-1 - Legislative findings.

10-50B-1. Legislative findings.
The Legislature finds the following:
(1)Cigarette smoking presents serious public health concerns to the State of South Dakota and to the citizens of the state. The surgeon general of the United States has determined that smoking causes lung cancer, heart disease, and other serious diseases, and that there are hundreds of thousands of tobacco-related deaths in the United States each year. These diseases most often do not appear until many years after the person in question begins smoking;
(2)Cigarette smoking also presents serious financial concerns for the state. Under certain health care programs, the state may have a legal obligation to provide medical assistance to eligible persons for health conditions associated with cigarette smoking, and those persons may have a legal entitlement to receive such medical assistance;
(3)Under these programs, the state pays millions of dollars each year to provide medical assistance for these persons for health conditions associated with cigarette smoking; and
(4)On November 23, 1998, major United States tobacco product manufacturers entered into a settlement agreement, entitled Master Settlement Agreement, with the state. The Master Settlement Agreement obligates these manufacturers, in return for a release of past, present, and certain future claims against them as described therein, to pay substantial sums to the state, tied in part to their volume of sales; to fund a national foundation devoted to the interests of public health; and to make substantial changes in their advertising and marketing practices and corporate culture, with the intention of reducing underage smoking.

Source: SL 1999, ch 60, ยง1.

Structure South Dakota Codified Laws

South Dakota Codified Laws

Title 10 - Taxation

Chapter 50B - Escrow Fund For Tobacco Litigation

Section 10-50B-1 - Legislative findings.

Section 10-50B-2 - Legislative intent.

Section 10-50B-3 - Definitions.

Section 10-50B-4 - Cigarette defined.

Section 10-50B-5 - Tobacco product manufacturer defined.

Section 10-50B-6 - Units sold defined.

Section 10-50B-7 - Requirements for tobacco product manufacturers selling cigarettes in state--Quarterly installment deposits.

Section 10-50B-8 - Tobacco product manufacturers to receive appreciation on funds--Funds released from escrow for specified purposes.

Section 10-50B-9 - Certification of compliance by tobacco product manufacturer--Civil action for non-compliance--Penalties.

Section 10-50B-10 - Each failure to make deposit a separate violation.

Section 10-50B-11 - Master Settlement Agreement monies to be deposited in education enhancement trust fund.

Section 10-50B-11.1 - Code provisions governing investment in education enhancement trust fund.

Section 10-50B-13 - Revocation of license--Hearing--Reinstatement.

Section 10-50B-15 - Assignment to state of manufacturer's interest in money in qualified escrow fund.

Section 10-50B-16 - Amendment of escrow agreement to execute assignment--Requirements--Delivery.

Section 10-50B-17 - Manufacturer not relieved of obligations by assignment.

Section 10-50B-18 - Cigarette importers--Tobacco product manufacturer--Joint and several liability--Escrow fund.

Section 10-50B-19 - State directory--Manufacturers--Surety bond--Amount.

Section 10-50B-20 - Disclosure of information--Purposes.