Nev. Rev. Stat. § 370A.090
Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1
"Qualified escrow fund" means an escrow arrangement with a federally or state-chartered financial institution, that has no affiliation with any manufacturer of tobacco products and has assets of at least $1 billion where the arrangement requires the financial institution to hold the principal of the amount deposited in escrow for the benefit of releasing parties and prohibits the manufacturer of tobacco products which deposits the money from using, having access to or directing the use of the principal of the amount deposited except as permitted under NRS 370A.150.
NRS 370A.090