§ 16-402. Definitions
West's Annotated Code of MarylandBusiness RegulationEffective: October 1, 2009
Effective: October 1, 2009
MD Code, Business Regulation, § 16-402
§ 16-402. Definitions
(2) “Cigarette” includes “roll-your-own” tobacco (i.e., any tobacco which, because of its appearance, type, packaging, or labeling is suitable for use and likely to be offered to or purchased by consumers as tobacco for making cigarettes). For purposes of this definition of “cigarette”, 0.09 ounces of “roll-your- own” tobacco shall constitute one individual “cigarette”.
(g) “Qualified escrow fund” means an escrow arrangement with a federally or State chartered financial institution having no affiliation with any tobacco product manufacturer and having assets of at least $1,000,000,000 where such arrangement requires that such financial institution hold the principal of the escrowed funds for the benefit of releasing parties and prohibits the tobacco product manufacturer that places the funds into escrow from using, accessing, or directing the use of the principal of the funds except as consistent with § 16-403(b) of this subtitle.
(i) manufactures cigarettes anywhere that such manufacturer intends them to be sold in the United States, including cigarettes intended to be sold in the United States through an importer (except where such importer is an original participating manufacturer (as that term is defined in the Master Settlement Agreement) that will be responsible for the payments under the Master Settlement Agreement with respect to such cigarettes as a result of the provisions of subsection II(mm) of the Master Settlement Agreement and that pays the taxes specified in subsection II(z) of the Master Settlement Agreement, and provided that the manufacturer of such cigarettes does not market or advertise the cigarettes in the United States);
(2) as measured by excise taxes collected by the State on packs (or “roll-your-own” tobacco containers) bearing the excise tax stamp of the State or on unstamped “roll-your-own” tobacco containers, with each 0.09 ounces of “roll-your-own” tobacco equaling one (1) unit sold. The State Comptroller shall promulgate regulations necessary to ascertain the amount of State excise tax paid on the cigarettes of such tobacco product manufacturer for each year.
Credits
Added by Acts 2009, c. 12, § 2, eff. Oct. 1, 2009.
MD Code, Business Regulation, § 16-402, MD BUS REG § 16-402
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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