ARTICLE 7. Tobacco Settlement State Securitization

Article 7 added by Stats. 2002, Ch. 414, Sec. 2.

§§ 63049–63049.55 · 7 sections

• § 63049 The definitions contained in this section are in addition to the definitions contained in Section 63010 and together with the definitions contained in that…
• § 63049.1 (a) Subject to subdivision (c) and subdivision (d), as applicable, the bank is hereby authorized to sell for, and on behalf of, the state, solely as its agent,…
• § 63049.2 Notwithstanding any other provision of this division, Article 3 (commencing with Section 63040), Article 4 (commencing with Section 63042), and Article 5…
• § 63049.3 Any sale of some or all of the tobacco assets under this article shall be treated as a true sale and absolute transfer of the property so transferred to the…
• § 63049.4 (a) On and after the effective date of each sale of tobacco assets, the state shall have no right, title, or interest in or to the tobacco assets sold, and the…
• § 63049.5 The state acknowledges and agrees that its 57 counties, the Cities of San Jose, Los Angeles, and San Diego, and the City and County of San Francisco, commonly…
• § 63049.55 (a) The Tobacco Asset Sales Revenue Fund is hereby established in the State Treasury for the purpose of maintaining a separate account for the investment of…