As used in KRS 248.701 to 248.727, unless the context requires otherwise: (1) "Board" means the Agricultural Development Board created by KRS 248.707; (2) "Fund" means the agricultural development fund established in KRS 248.655 as the "Rural Development Fund;" (3) "Subcommittee" means the Tobacco Settlement Agreement Fund Oversight Committee created by KRS 248.723; (4) "Council" means an agricultural development council required by KRS 248.721; (5) "Master Settlement Agreement" means the settlement agreeme nt dated November 23, 1998, entered into by the Commonwealth of Kentucky and major United States tobacco product manufacturers; and (6) "Phase II Agreement" means the National Tobacco Grower Settlement Trust Agreement dated July 19, 1999, entered into by t obacco states and major tobacco companies to compensate tobacco growers and quota owners for losses resulting from the Master Settlement Agreement.
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