10-50B-15. Assignment to state of manufacturer's interest in money in qualified escrow fund.
Notwithstanding the provisions of §10-50B-8, a manufacturer that elects to deposit money into a qualified escrow fund pursuant to §10-50B-7 may assign to the state the interest of the manufacturer in any money in the qualified escrow fund.
An assignment executed under this section is irrevocable and applies to any money and any interest or other appreciation earned on any money for which the manufacturer executes the assignment.
Source: SL 2019, ch 67, §1.
Structure South Dakota Codified Laws
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-10 - Each failure to make deposit a separate violation.
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-16 - Amendment of escrow agreement to execute assignment--Requirements--Delivery.
Section 10-50B-17 - Manufacturer not relieved of obligations by assignment.
Section 10-50B-19 - State directory--Manufacturers--Surety bond--Amount.