3.2-4203 - Withdrawal of escrow funds assigned and contributed to the Commonwealth. - Virginia Statutes

§ 3.2-4203. Withdrawal of escrow funds assigned and contributed to theCommonwealth.

Notwithstanding the provisions of subsection B of § 3.2-4201, any escrowfunds assigned and contributed to the Commonwealth pursuant to § 3.2-4202,less the aggregate limitation for incentive payments to all small tobaccoproduct manufacturers for the relevant year due from the escrow fundspursuant to § 58.1-439.15:01, shall be withdrawn by the Commonwealth byrequest of the State Treasurer to the Attorney General and upon approval ofthe Attorney General. The State Treasurer shall make such request as soon aspracticable and such escrow funds withdrawn shall be deposited into theVirginia Health Care Fund established under § 32.1-366.

After such withdrawal, and after the actual incentive payments pursuant to §58.1-439.15:01 have been made from the escrow funds in the escrow account,any remaining escrow funds shall be withdrawn under the withdrawal proceduresprovided in this section, and the withdrawn escrow funds shall be depositedinto the Virginia Health Care Fund. Nothing in this article shall beconstrued to relieve a tobacco product manufacturer from any past, current,or future obligations it may have pursuant to Article 1 (§ 3.2-4200 et seq.)or Article 3 (§ 3.2-4204 et seq.) of this chapter.

(2005, cc. 899, 901, § 3.1-336.2:2; 2008, c. 860.)