Title 42, Title 42 Affairs and Government

The corporation and the board have no power to incur debt or obligations or in any way to encumber their assets except by the issuance of bonds, including the making of covenants in relation to the issuing of bonds and the incurring of expenses and obligations in connection with …

The bonds of the corporation are hereby made securities in which all public officers and bodies of this state and municipalities and municipal subdivisions, all companies and associations and other persons carrying on an insurance business, all banks, bankers, trust companies, sa…

The state does hereby pledge to and agree with the holders of any bonds issued under this chapter that the state will not limit or alter the rights vested in the corporation to fulfill the terms of any agreements made with the holders, or otherwise take any action that materially…

Bonds issued under the provisions of this chapter shall not constitute a debt, liability, or obligation of the state or of any political subdivision thereof other than the corporation, or a pledge of the faith and credit of the state or any political subdivision, but shall be pay…

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 repor…

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,…

Insofar as the provisions of this chapter are inconsistent with the provisions of any other law or ordinance, general, special or local, the provisions of this chapter shall be controlling.

The issuance of bonds of the corporation under the provisions of this chapter need not comply with the requirements of any other statute applicable to the issuance of obligations. No proceedings or notice of approval shall be required for the issuance of any bonds except as provi…

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 recei…

If any clause, sentence, paragraph, section, or part of this chapter shall be adjudged by any court of competent jurisdiction to be invalid, that judgment shall not affect, impair, or invalidate the remainder of this chapter, but shall be confined in its operation to the clause, …

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…

(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 …

(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 …

(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, …

(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 a…

(a) In furtherance of this chapter: (1) The corporation may issue bonds, from time to time, for the purposes and in the manner authorized by this chapter. Bonds issued pursuant to this chapter may be secured by the pledge of a portion of the state’s tobacco receipts sold to the c…

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 t…