Consumer litigation funding definition

Consumer litigation funding means a non-recourse transaction in
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Consumer litigation funding or “funding” means a nonrecourse
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Consumer litigation funding means a non-recourse transaction in which a consumer litigation funding company purchases, with funds paid directly to the consumer, and a consumer assigns to the company a contingent right to receive an amount of the potential proceeds of a settlement, judgment, award, or verdict obtained in the consumer's legal claim.
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Examples of Consumer litigation funding in a sentence

  • Consumer litigation funding companies shall be prohibited from 44 attempting to obtain, or obtaining a waiver of any remedy, including but 45 not limited to, compensatory, statutory or punitive damages, that the 46 consumer might otherwise have.

  • Consumer litigation funding contracts shall contain a written 16 acknowledgement by the attorney retained by the consumer that attests: 17 (a) the attorney is being paid on a contingency basis pursuant to a 18 written fee agreement; and 19 (b) the attorney is not receiving a referral fee from the litigation 20 funding company in connection with the consumer's funding.

  • Consumer litigation funding companies 33 shall be prohibited from paying, accepting or offering referral fees or 34 any type of consideration to and from any medical providers, licensed 35 therapists or attorneys for referring a consumer to the company for the 36 purpose of entering into a consumer litigation funding contract.

  • Consumer litigation funding contract" shall mean a contract to 2 provide non-recourse funding of no more than five hundred thousand 3 dollars to a consumer on the contingent right to receive the funded 4 amount and agreed upon charges obtained in the event of a settlement, 5 judgment or award.

  • Consumer litigation funding 11 contracts shall contain a right of rescission, allowing the consumer to 12 cancel the consumer litigation funding contract without a penalty if the 13 consumer returns the full amount of disbursed funds to the company with- 14 in ten business days.

  • Consumer litigation funding contracts shall contain a no penalty 29 provision for the pre-payment of the funded amount prior to the settle- 30 ment of his or her case.

  • Consumer litigation funding companies shall be prohibited from 48 attempting to effect arbitration or otherwise effect waiver of a consum- 49 er's right to trial by jury for complaints arising from the consumer 50 litigation funding contract.

  • Consumer litigation funding contracts shall clearly outline a sche- 22 duled fee structure that outlines repayment terms including: 23 (a) the funded amount plus charges written out as itemized amounts; 24 (b) the charges outlined as a percentage amount exceeding the funded 25 amount; and 26 (c) itemized one-time fees including paperwork processing and adminis- 27 trative fees.

  • Consumer litigation funding companies shall be prohibited from 52 assigning a consumer litigation funding contract in whole or in part.

  • Consumer litigation funding company,” “litigation funding company,” or “company” means a person that provides consumer litigation funding to a consumer.


More Definitions of Consumer litigation funding

Consumer litigation funding or “funding” means a nonrecourse transaction in which a company purchases and a consumer assigns to the company a contingent right to receive an amount of the potential net proceeds of a settlement or judgment obtained from the consumer’s legal claim. If no proceeds or net proceeds are obtained, the consumer is not required to repay the company the funded amount or charges.
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Consumer litigation funding means a non-recourse transaction
Sample 1Sample 2Sample 3
Consumer litigation funding or “funding” means a nonrecourse transaction in which a company purchases and a consumer assigns to the company a contingent right to receive an amount of the potential net proceeds
Sample 1Sample 2
Consumer litigation funding means a transaction, whether recourse or nonrecourse, in which a person makes a consumer loan and in return, the consumer assigns to such person a right to receive an amount of the proceeds of a settlement, insurance payment, judgment, award or verdict the consumer may receive in an action or claim. This term does not include legal services provided on a contingency fee basis, or advanced legal costs, where such services or costs are provided to or on behalf of a consumer by an attorney representing the consumer in the dispute and in accordance with the South Carolina Rules of Professional Conduct.
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Consumer litigation funding or “funding” means a nonrecourse transaction in which a company purchases and a consumer assigns to the
Sample 1
Consumer litigation funding or “funding” means a nonrecourse transaction in which a company purchases and a consumer assigns to the company a contingent right to receive an amount of the potential net proceeds of a settlement or judgment obtained from the consumer’s legal claim. If no
Sample 1

Related to Consumer litigation funding

  • Threatened litigation as used herein shall include governmental investigations and civil investigative demands. “Litigation” as used herein shall include administrative enforcement actions brought by governmental agencies. The Grantee must also disclose any material litigation threatened or pending involving Subcontractors, consultants, and/or lobbyists. For purposes of this section, “material” refers, but is not limited, to any action or pending action that a reasonable person knowledgeable in the applicable industry would consider relevant to the Work under the Grant Agreement or any development such a person would want to be aware of in order to stay fully apprised of the total mix of information relevant to the Work, together with any litigation threatened or pending that may result in a substantial change in the Xxxxxxx’s financial condition.

  • Legal Action means and includes any claim, counterclaim, demand, action, suit, counterclaim, arbitration, inquiry, proceeding or investigation before any

  • Litigation means any lawsuit, action, arbitration, administrative or other proceeding, criminal prosecution or governmental investigation or inquiry.

  • Official proceeding means any proceeding before a legislative, judicial, administrative, or other governmental agency or official authorized to take evidence under oath and includes any proceeding before a referee, hearing examiner, commissioner, notary, or other person taking testimony or a deposition in connection with an official proceeding.

  • Administrative proceeding means a non-judicial process that is adjudicatory in nature in order to make a determination of fault or liability (e.g., Securities and Exchange Commission Administrative Proceedings, Civilian Board of Contract Appeals Proceedings, and Armed Services Board of Contract Appeals Proceedings). This includes administrative proceedings at the Federal and State level but only in connection with performance of a Federal contract or grant. It does not include agency actions such as contract audits, site visits, corrective plans, or inspection of deliverables.