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NY S03852
Bill
Status
6/21/2013
Primary Sponsor
John DeFrancisco
Click for details
AI Summary
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Caps the total undertaking (bond) required to stay enforcement of judgments against tobacco manufacturers participating in the Master Settlement Agreement at $250 million, regardless of judgment value.
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Requires appeals involving such manufacturers to be diligently prosecuted in good faith, with courts able to lift the stay if appeals are not pursued diligently.
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Permits courts to lift the stay or require additional bonds up to the full judgment amount if defendants dissipate assets to avoid payment or fail to make required MSA payments (except good faith disputes).
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Preserves manufacturers' obligations to make all payments and contributions required under the Master Settlement Agreement and escrow fund requirements.
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Takes effect 30 days after enactment and applies to pending or newly filed causes of action.
Legislative Description
Relates to the undertaking required during the pendency of a stay of enforcement of a judgment against a participating or non-participating manufacturer under the master settlement agreement.
Last Action
referred to judiciary
6/23/2014