Tobacco Settlement Financing Corporation
The Tobacco Settlement Financing Corporation was established by Chapter 482 of the Virginia Acts of Assembly - 2002 Session, to purchase certain of the rights, title and interest to amounts received by the Commonwealth under the Master Settlement Agreement between the Commonwealth and leading tobacco United States tobacco product manufacturers dated November 23, 1998, and to issue bonds secured solely from funds of the Corporation.
Statutory Requirements for Board Membership:
Chapter 482 of the 2002 Virginia Acts of Assembly establishes the membership of the Tobacco Settlement Financing Corporation. The Corporation consists of the State Treasurer, and five additional members of the public appointed by the Governor, subject to confirmation by the General Assembly. Appointed members serve for terms of four years, or until their successor is appointed.
Gubernatorial Appointees:
| Jerry B. Flowers, III (Chairman) | Suzanne Bachman |
|---|---|
| Term effective: July 1, 2003 Term expiration: June 30, 2007 |
Term effective: July 2, 2006 Term expiration: June 30, 2010 |
| Joseph R. Cobbe | David D. Owen |
| Term effective: July 1, 2004 Term expiration: June 30, 2008 |
Term effective: July 1, 2006 Term expiration: June 30, 2010 |
| Rev. Joseph N. Waddy | |
Term effective: July
1, 2005 Term expiration: June 30, 2009 |
|
