Title 43 — Title 43 STATE GOVERNMENT—EXECUTIVE
178 chapters · 3,474 sections in this title.
RCW 43.340.005 Purpose—Construction.
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The legislature declares it to be the public policy of the state and a recognized governmental function to assist in securitizing the revenue stream from the master settlement agreement between the state and tobacco product manufacturers in order to provide a current and reliable…
RCW 43.340.010 Definitions.
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The definitions in this section apply throughout this chapter unless the context clearly requires otherwise.(1) "Authority" means the tobacco settlement authority created in this chapter.(2) "Board" means the governing board of the authority.(3) "Bonds" means bonds, notes, and ot…
RCW 43.340.020 Tobacco settlement authority—Governing board—Meetings—Staff support.
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(1) The tobacco settlement authority is created and constitutes a public instrumentality and agency of the state, separate and distinct from the state, exercising public and essential governmental functions. The authority is a public body within the meaning of RCW 39.53.010.(2) T…
RCW 43.340.030 Tobacco settlement authority—Powers—Rule-making authority.
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(1) The authority has all the general powers necessary to carry out its purposes and duties and to exercise its specific powers. In addition to other powers specified in this chapter, the authority may:(a) Sue and be sued in its own name;(b) Make and execute agreements, contracts…
RCW 43.340.040 Financing powers.
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In addition to other powers and duties prescribed in this chapter, the authority is empowered to:(1) Establish a stable source of revenue to be used for the purposes designated in this chapter;(2) Enter into sales agreements with the state for purchase of a portion of the amounts…
RCW 43.340.050 Bonds.
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(1) The authority may issue its bonds in principal amounts which, in the opinion of the authority, are necessary to provide sufficient funds for achievement of its purposes, the payment of debt service on its bonds, the establishment of reserves to secure the bonds, the costs of …
RCW 43.340.060 Bonds—Obligations of authority—Not obligations of state.
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(1) Bonds issued under this chapter shall be issued in the name of the authority. The bonds shall not be obligations of the state of Washington and shall be obligations only of the authority, payable solely from the special fund or funds created by the authority for their payment…
RCW 43.340.070 Bonds—Legal investments.
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Bonds issued under this chapter are hereby made securities in which all insurance companies, trust companies in their commercial departments, savings banks, cooperative banks, banking associations, investment companies, executors, trustees and other fiduciaries, and all other per…
RCW 43.340.080 Sale of rights in master settlement agreement.
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(1) The governor is authorized to sell and assign to the authority all of the state's right to receive a portion of the state's annual share of the revenue derived from the master settlement agreement for litigation brought by the state against tobacco product manufacturers. The …
RCW 43.340.090 Limitation of liability.
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Members of the board and persons acting in the authority's behalf, while acting within the scope of their employment or agency, are not subject to personal liability resulting from carrying out the powers and duties conferred on them under this chapter.[ 2002 c 365 s 10.]
RCW 43.340.100 Bankruptcy—Contractual obligation to contain section.
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Prior to the date that is three hundred sixty-six days after which the authority no longer has any bonds outstanding, the authority is prohibited from filing a voluntary petition under chapter 9 of the federal bankruptcy code or such corresponding chapter or section as may, from …
RCW 43.340.110 Dissolution of authority.
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The authority shall dissolve no later than two years from the date of final payment of all of its outstanding bonds and the satisfaction of all outstanding obligations of the authority, except to the extent necessary to remain in existence to fulfill any outstanding covenants or …
RCW 43.340.130 Appeals bonds—Amounts.
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(1) Except as provided in subsection (2) of this section, in order to secure and protect the moneys to be received as a result of the master settlement agreement in civil litigation under any legal theory involving a signatory, a successor of a signatory, or any affiliate of a si…
RCW 43.340.902 Effective date—2002 c 365.
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This act is necessary for the immediate preservation of the public peace, health, or safety, or support of the state government and its existing public institutions, and takes effect immediately [April 4, 2002].[ 2002 c 365 s 19.]