1. There is hereby established in the sole custody of the comptroller a special fund, to be known as the 'tobacco settlement fund'. 2. Such fund shall consist of moneys received by the state, as a result of the settlement of litigation in the case of State of New York and Dennis C. Vacco v. Philip Morris, Incorporated, et al. (Supreme Court, New York County, Index No. 400361/97), pursuant to the escrow arrangement provided in the master settlement agreement entered into by, inter alia, the Attorney General of the State of New York and the Tobacco Industry, on November 23, 1998. All monies shall remain in such fund unless otherwise directed by statute.
New York Legal Code