South Dakota Statutes
§ 10-50B-8 — Tobacco product manufacturers to receive appreciation on funds--Funds released from escrow for specified purposes.
A tobacco product manufacturer that places funds into escrow pursuant to § 10-50B-7 shall receive the interest or other appreciation on such funds as earned. Such funds themselves shall be released from escrow only under the following circumstances:
(1)To pay a judgment or settlement on any released claim brought against such tobacco product manufacturer by the state or any releasing party located or residing in the state. Funds shall be released from escrow under this subdivision in the order in which they were placed into escrow and only to the extent and at the time necessary to make payments required under such judgment or settlement;
(2)To the extent that a tobacco product manufacturer establishes that the amount it was required to place into escrow on account of units sold in
Free access — add to your briefcase to read the full text and ask questions with AI
South Dakota § 10-50B-8 (Tobacco product manufacturers to receive appreciation on funds--Funds released from escrow for specified purposes.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1999, ch 60, § 8; SL 2004, ch 99, § 1; SL 2010, ch 68, § 5.
Nearby Sections
15
§ 10-1-1.1
, 10-1-2§ 10-1-13
General functions of secretary.§ 10-1-13.1
Interstate agreements for administration of excise and income taxes--Exchange of information.§ 10-1-15
General supervision of assessment of property for taxation--Forms--Classification of property.§ 10-1-16
Advice and direction to directors of equalization and boards--Instructional meetings of directors.§ 10-1-16.1
Standard real estate appraisal manual.