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WV Code § 4-11A-1 (2021)
2021 West Virginia Code|Chapter 4. The Legislature|Article 11A. Legislative Appropriation of Tobacco Settlement Funds|§4-11A-1. Legislative Findings and Purpose

(a) On November 23, 1998, tobacco product manufacturers entered into a settlement agreement with the state. This master settlement agreement releases those manufacturers from past, present and specific future claims against them in return for payment of annual sums of money to the state, obligates the manufacturers to change their advertising and marketing practices and requires the establishment by the manufacturers of a national foundation for the interests of public health.(b) The revenues received pursuant to the master settlement agreement are directly related to the past, present and future costs incurred by the state for the treatment of tobaccorelated illnesses. The receipt of revenues in the future is subject to the ongoing risk of litigation against manufacturers or other events that may adversely affect the financial strength of the manufacturers. The purpose of this article is to preserve the revenues received from the settlement.(c) The receipt of funds in accordance with the master settlement agreement shall be deposited only in accordance with the provisions of this article.(d) The state receives revenue each year under the terms of the master settlement agreement with the tobacco manufacturers. This revenue is used to fund programs of vital importance to the people of West Virginia and the Legislature finds that it is in the best interest of the people of this state to protect these revenues by the sale of the state's share to the Tobacco Settlement Finance Authority created in section six of this article.
WV Code § 4-11A-1a (2021)
2021 West Virginia Code|Chapter 4. The Legislature|Article 11A. Legislative Appropriation of Tobacco Settlement Funds|§4-11A-1a. Legislative Findings Related to Securitization of Moneys Received Pursuant to Master Settlement Agreement and Previously Dedicated to the Workers' Compensation Debt Reduction Fund

(a) In December, 2005, the Governor issued a proclamation regarding the privatization of the workers' compensation system pursuant to section eleven, article two-c, chapter twenty-three of this code, thereby proclaiming that a revenue source had been secured to satisfy the Old Fund liabilities as they occur;(b) A portion of the revenue source secured to satisfy the Old Fund liabilities as they occur was the first $30 million received pursuant to section IX(c)(1) of the master settlement agreement and the anticipated strategic compensation payments to be received pursuant to section IX(c)(2) of the master settlement agreement;(c) For purposes of the proclamation, it was assumed that the first $30 million received pursuant to section IX(c)(1) of the master settlement agreement and the anticipated strategic compensation payments to be received pursuant to section IX(c)(2) of the master settlement agreement as calculated pursuant to subsection (a), section twelve of this article would on a calendar year basis provide a maximum of $45 million per year to satisfy the Old Fund liabilities as they occur;(d) The Legislature finds and declares that replacing the first $30 million received pursuant to section IX(c)(1) of the master settlement agreement and the anticipated strategic compensation payments to be received pursuant to section IX(c)(2) of the master settlement agreement with $50,400,000 pursuant to section eighteen of this article for the benefit of the Old Fund, in combination with the remaining portions of the revenue sources secured for the unfunded liabilities of the Old Fund as established in Enrolled Senate Bill No. 1004 during the first extraordinary session of the Legislature, 2005, will ensure that a revenue source has been and will continue to remain secured to satisfy the Old Fund liabilities as they occur; and thus all conditions precedent to the issuance of the proclamation by the Governor remain in effect.
WV Code § 4-11A-3 (2021)
2021 West Virginia Code|Chapter 4. The Legislature|Article 11A. Legislative Appropriation of Tobacco Settlement Funds|§4-11A-3. Receipt of Settlement Funds and Required Deposit in the West Virginia Tobacco Settlement Fund

(a) There is hereby created in the state Treasury a special revenue account, designated the Tobacco Settlement Fund, which shall be an interest-bearing account and may be invested in the manner permitted by the provisions of article six, chapter twelve of this code, with the interest income a proper credit to the fund. Unless contrary to federal law, fifty percent of all revenues received pursuant to the master settlement agreement shall be deposited in this fund. These funds shall be available only upon appropriation by the Legislature as part of the state budget: Provided, That for the fiscal year 2000, the first $5 million received into the fund shall be transferred to the Public Employees Insurance Reserve Fund created in article two, chapter five-a of this code.(b) Appropriations from the Tobacco Settlement Fund are limited to expenditures for the following purposes:(1) Reserve funds for continued support of the programs offered by the Public Employees Insurance Agency established in article sixteen, chapter five of this code;(2) Funding for expansion of the federal-state Medicaid program as authorized by the Legislature or mandated by the federal government;(3) Funding for public health programs, services and agencies; and(4) Funding for any state-owned or -operated health facilities.(c) Notwithstanding anything in this code to the contrary, on the effective date of the sale of the state's share to the authority as authorized in this article, the deposits and transfers provided in this section shall cease and no longer be required.
WV Code § 4-11A-4 (2021)
2021 West Virginia Code|Chapter 4. The Legislature|Article 11A. Legislative Appropriation of Tobacco Settlement Funds|§4-11A-4. Limitation on Appeal Bond

The bond that any appellant who is a signatory or a successor to a signatory of the master settlement agreement or who controls or is under common control with a signatory of the master settlement agreement may be required to post to stay execution on a judgment during an appeal in any cause of action shall be set in accordance with the provisions of section fourteen, article five, chapter fifty-eight of this code and the West Virginia rules of civil procedure: Provided, That an appeal bond may not exceed $100 million for compensatory damages and all other portions of a judgment other than punitive damages and $100 million for punitive damages unless the appellee proves by a preponderance of the evidence that the appellant or appellants are purposefully dissipating or diverting assets outside of the ordinary course of its business to the effect that the ability to pay the ultimate judgment is impaired. For purposes of this section, multiple judgments resulting from cases that have been consolidated or aggregated for purposes of trial proceedings shall be treated as a single judgment.
WV Code § 4-11A-5 (2021)
2021 West Virginia Code|Chapter 4. The Legislature|Article 11A. Legislative Appropriation of Tobacco Settlement Funds|§4-11A-5. Applicability

The provisions of section four of this article, as originally passed or later amended, apply to all actions pending in the courts of this state on the effective date of this section and to any action filed in this state on or after the effective date: Provided, That the provisions of section four of this article providing for the maximum amount of an appeal bond shall not apply in any action brought by any signatory to the master settlement agreement seeking to enforce compliance with the terms of the master settlement agreement or for a breach of the master settlement agreement.
WV Code § 4-11A-6 (2021)
2021 West Virginia Code|Chapter 4. The Legislature|Article 11A. Legislative Appropriation of Tobacco Settlement Funds|§4-11A-6. Creation of Tobacco Settlement Finance Authority

(a) The Tobacco Settlement Finance Authority is hereby created and constitutes a body corporate and politic, constituting a public corporation and government instrumentality of the state and the exercise of its powers pursuant to this article is an essential governmental function.(b) The authority shall not create any obligation of this state or any political subdivision of this state within the meaning of any Constitutional or statutory debt limitation.(c) The authority shall not pledge the credit or taxing power of the state or any political subdivision of this state, or make its debts payable out of any moneys except those of the authority specifically pledged for their payment.
WV Code § 4-11A-7 (2021)
2021 West Virginia Code|Chapter 4. The Legislature|Article 11A. Legislative Appropriation of Tobacco Settlement Funds|§4-11A-7. Definitions

Unless the context clearly indicates otherwise, as used in this article:(a) "Authority" means the Tobacco Settlement Finance Authority created in this article.(b) "Board" means the governing board of the authority.(c) "Bonds" means bonds, notes and other obligations and financing arrangements issued or entered into by the authority pursuant to this article.(d) "Complementary legislation" means article nine-d, chapter sixteen of this code.(e) "Interest rate agreement" means an interest rate swap or exchange agreement, an agreement establishing an interest rate floor or ceiling or both, or any similar agreement. Any agreement may include the option to enter into or cancel the agreement or to reverse or extend the agreement.(f) "Master settlement agreement" means the master settlement agreement as defined in section one of this article.(g) "Net proceeds" means the amount of proceeds remaining following each sale of bonds which are not required by the authority to establish and fund reserve funds, to fund an operating expense reserve for the authority, to fund capitalized interest, if any, and to pay the costs of issuance and other expenses and fees related to the authorization and issuance of bonds.(h) "Notes" means notes, warrants, loan agreements and all other forms of evidence of indebtedness authorized under this article.(i) "Qualified investments" means investments of the authority authorized pursuant to this article as established by the authority pursuant to subdivision (11), subsection (a), section eleven of this article.(j) "Qualifying statute" has the meaning given that term in the master settlement agreement, constituting article nine-b, chapter sixteen of this code.(k) "Sales agreement" means any agreement authorized pursuant to this article in which the state provides for the sale of all or a portion of the state's share to the authority.(l) "State's share" means all of the following:(1) All payments required to be made by tobacco product manufacturers to the state, and the state's rights to receive the payments, under the master settlement agreement.(2) The state's rights in any collateral securing or otherwise assuring the receipt of the moneys.
WV Code § 4-11A-8 (2021)
2021 West Virginia Code|Chapter 4. The Legislature|Article 11A. Legislative Appropriation of Tobacco Settlement Funds|§4-11A-8. Governing Board

(a) The powers of the authority are vested in and shall be exercised by a board of five individuals, consisting of the Secretary of the Department of Administration, who shall act as chairperson, the Treasurer of the State of West Virginia, and three individuals, each appointed by the Governor, who shall have skill and experience in finance.(b) Three members of the board constitute a quorum.(c) The members shall elect a vice chairperson and secretary, annually, and other officers as the members determine necessary.(d) Meetings of the board shall be held at the call of the chairperson or when a majority of the members request a meeting.(e) The members of the board shall not receive compensation by reason of their membership on the board.(f) Of the initial appointments made by the Governor to the authority, two shall be for a term of two years and two shall be for a term of three years. Members appointed to the authority subsequent to the initial appointments shall serve for terms of four years. Any member whose term has expired shall serve until his or her successor has been duly appointed and qualified. Any person appointed to fill a vacancy shall serve only for the unexpired term.
WV Code § 4-11A-9 (2021)
2021 West Virginia Code|Chapter 4. The Legislature|Article 11A. Legislative Appropriation of Tobacco Settlement Funds|§4-11A-9. Staff; Assistance by State Officers, Agencies and Departments

(a) The Secretary of the Department of Administration shall furnish to the authority any secretarial, clerical, technical, research and other services that are necessary to the conduct of the business of the authority.(b) State officers, agencies and departments may render services to the authority within their respective functions, as requested by the authority.
WV Code § 4-11A-10 (2021)
2021 West Virginia Code|Chapter 4. The Legislature|Article 11A. Legislative Appropriation of Tobacco Settlement Funds|§4-11A-10. Limitation of Liability

Members of the board and persons acting on the authority's behalf, while acting within the scope of their employment or agency, are not subject to personal liability resulting from carrying out the powers and duties conferred on them under this article.
WV Code § 4-11A-14 (2021)
2021 West Virginia Code|Chapter 4. The Legislature|Article 11A. Legislative Appropriation of Tobacco Settlement Funds|§4-11A-14. Exemption From Purchasing Provisions

The provisions of article three, chapter five-a of this code shall not apply to the authority with respect to contracts entered into by the authority in carrying out the public and essential governmental functions set forth in this article and are exempt from the laws of the state which provide for competitive bids and hearings in connection with contracts and for review as to the form of contracts by the office of the Attorney General of the state.
WV Code § 4-11A-15 (2021)
2021 West Virginia Code|Chapter 4. The Legislature|Article 11A. Legislative Appropriation of Tobacco Settlement Funds|§4-11A-15. Bankruptcy

Notwithstanding any other provision of law, the authority is not authorized, and no governmental officer or organization shall authorize the authority to become a debtor in a case under the United States bankruptcy code, Title 11 of the United States Code, to make an assignment for the benefit of creditors or to become the subject of any similar case or proceeding. The provisions of this section shall be part of any contractual obligation owed to holders of any bonds issued pursuant to this article and shall not be modified by the state prior to the date which is three hundred sixty-six days after which the authority no longer has any bonds outstanding.
WV Code § 4-11A-16 (2021)
2021 West Virginia Code|Chapter 4. The Legislature|Article 11A. Legislative Appropriation of Tobacco Settlement Funds|§4-11A-16. Dissolution of the Authority; Distribution of Assets

The authority shall dissolve not sooner than three hundred sixty-six days after it no longer has any bonds outstanding and no later than two years from the date of final payment of all outstanding bonds and the satisfaction of all outstanding obligations of the authority, except to the extent necessary to remain in existence to fulfill any outstanding covenants or provisions with bondholders or third parties made in accordance with this article. Upon dissolution of the authority, all assets of the authority shall be transferred to the state, and the authority shall execute any necessary assignments or instruments, including any assignment of any right, title or ownership to the state for receipt of payments under the master settlement agreement. In no event shall the authority dissolve while any bonds of the authority are outstanding.
WV Code § 4-11A-17 (2021)
2021 West Virginia Code|Chapter 4. The Legislature|Article 11A. Legislative Appropriation of Tobacco Settlement Funds|§4-11A-17. Construction

This article, being considered necessary for the welfare of the state and its people, shall be liberally construed to affect its purpose.
WV Code § 4-11A-18 (2021)
2021 West Virginia Code|Chapter 4. The Legislature|Article 11A. Legislative Appropriation of Tobacco Settlement Funds|§4-11A-18. Dedication of Personal Income Tax Proceeds as Replacement Moneys for Anticipated Tobacco Master Settlement Agreement Proceeds to the Old Fund

(a) There is hereby dedicated an annual amount of $50,400,000 from annual collections of the tax imposed by article twenty-one, chapter eleven of this code as a portion of the revenue source dedicated to satisfy the Old Fund liabilities as they occur to provide a dollar for dollar replacement of the first $30 million received pursuant to section IX(c)(1) of the master settlement agreement and the anticipated strategic compensation payments to be received pursuant to section IX(c)(2) of the master settlement agreement as previously dedicated to the Old Fund prior to the sale of state's share to the Tobacco Settlement Finance Authority. No portion of this amount may be pledged for payment of debt service on revenue bonds issued pursuant to article two-d, chapter twenty-three of this code.(b) Notwithstanding any other provision of this code to the contrary, beginning immediately after the sale of the state's share to the Tobacco Settlement Finance Authority, $50,400,000 from collections of the tax imposed by article twenty-one, chapter eleven of this code shall be deposited each calendar year to the credit of the Old Fund created in article two-d, chapter twenty-three of this code in accordance with the following schedule. Each calendar month, except for July, August and September each year, $5,600,000 shall be transferred, on or before the twenty-eighth day of the month, to the Workers' Compensation Debt Reduction Fund created in article two-d, chapter twenty-three of this code. The transfers pursuant to this section are in addition to the transfers pursuant to section ninety-six, article twenty-one, chapter eleven of this code.(c) Expiration. —The transfers required by this section shall cease on and after February 1, 2016. No transfer pursuant to this section shall be made thereafter.
WV Code § 4-12-1 (2021)
2021 West Virginia Code|Chapter 4. The Legislature|Article 12. Establishment of a West Virginia Law Institute|§4-12-1. Authority of Legislature to Establish West Virginia Law Institute

The West Virginia Legislature creates and establishes a state law institute, to be known as the "West Virginia Law Institute," as an official advisory law revision and law reform agency of the State of West Virginia and to be located at the West Virginia University college of law.
WV Code § 4-12-2 (2021)
2021 West Virginia Code|Chapter 4. The Legislature|Article 12. Establishment of a West Virginia Law Institute|§4-12-2. Purposes and Duties

The general purposes of the West Virginia law institute are to promote and encourage the clarification and simplification of the law of West Virginia, to improve the better administration of justice and to conduct scholarly legal research and scientific legal work. To that end it shall be the duty of the West Virginia law institute to:(a) Consider needed improvements in both substantive and procedural law and to make recommendations concerning the same to the Legislature;(b) Examine and study the law of West Virginia to discover defects and inequities and of recommending needed reforms;(c) Receive and consider suggestions from judges, justices, public officials, lawyers and the public generally as to defects and anachronisms in the law;(d) Recommend from time to time such changes in the law as it deems necessary to modify or eliminate antiquated and inequitable rules of law;(e) Render annual reports to the Legislature and, if it deems so advisable, accompany its reports with proposed bills to carry out any of its recommendations;(f) Recommend the repeal of obsolete statutes and suggest needed amendments, additions and deletions; and(g) Organize and conduct an annual meeting within the state for scholarly discussions of current problems in West Virginia law, bringing together representatives of the Legislature, practicing attorneys, members of the judiciary and West Virginia State Bar and representatives of the law teaching profession.
WV Code § 4-12-3 (2021)
2021 West Virginia Code|Chapter 4. The Legislature|Article 12. Establishment of a West Virginia Law Institute|§4-12-3. Governing Council and Members

(a) The institute shall have such members and committees as the governing body of the West Virginia law institute may direct. The governing body shall also elect a president, secretary and any other officers as it determines necessary.(b) The governing body of the institute shall be a council composed of ex officio members and elected members as follows:(1) One justice of the West Virginia Supreme Court of Appeals to be selected by the justices thereof;(2) One circuit court judge, selected by the West Virginia judicial association;(3) One federal judge residing in West Virginia, selected by the federal judges residing in West Virginia;(4) The Attorney General of the State of West Virginia;(5) One legal counsel to the Governor of the State of West Virginia;(6) The chairperson of the judiciary committees of the Senate and the House of Delegates of the West Virginia Legislature or an attorney member of the respective committees appointed by the chairperson of the committee;(7) One member each from the majority and minority parties of the Senate and the House of Delegates of the West Virginia Legislature to be selected by the President of the Senate and the Speaker of the House of Delegates, respectively;(8) The director of West Virginia Legislative Services;(9) The chairperson of the West Virginia commission on uniform state laws;(10) The president and first vice president of the West Virginia State Bar;(11) The chairperson of the young lawyers section of the West Virginia State Bar;(12) The dean of the West Virginia University college of law;(13) Two attorneys appointed by the Governor of the State of West Virginia for terms to run concurrently with the term of the Governor;(14) The director of the continuing legal education program sponsored by the West Virginia State Bar and the West Virginia University college of law; and(15) The editor-in-chief of the West Virginia law review.(c) The elected membership shall consist of two faculty members who shall be elected from the members of the faculty of the West Virginia University college of law and four practicing attorneys from each of the congressional districts in the state who shall be selected by the board of Governors of the West Virginia State Bar.(d) All ex officio members of the council shall hold their positions during their respective terms of office. The term of office of the elected members of the council shall be four years. The terms of office of the first elected practicing attorney members shall be appointed by the board of Governors of the West Virginia State Bar such that four shall be appointed for two years, four for three years and four for four years. Thereafter, appointments shall be for four years. Elected members of the council shall be eligible for reelection.(e) Vacancies in the elected membership created by death, resignation or otherwise than by the expiration of the terms of office shall be filled by the council under such rules as it may adopt.
WV Code § 4-12-4 (2021)
2021 West Virginia Code|Chapter 4. The Legislature|Article 12. Establishment of a West Virginia Law Institute|§4-12-4. Compensation of Members of the Council of the West Virginia Law Institute, Director and Assistants

The members of the council of the West Virginia law institute shall serve without any compensation for services as such. The council may employ and fix and pay reasonable compensation to the director of the institute and the director's assistants, and may pay honoraria to members of the council who perform professional services for the institute, as authorized by the council. The compensation provided for in this section shall come from private funding and no state funds are to be provided for this institute.