Legal funding definition

Legal funding means a transaction in which a company makes a cash payment to a consumer in exchange for the right to receive an amount out of the potential proceeds of any realized settlement, judgment, award or verdict the consumer may receive in a civil claim or action. If no proceeds in the civil claim or action are received, the consumer is not required to pay the company.
Legal funding means a payment of $500,000 or less to an individual in exchange for the right to receive an amount out of the potential proceeds of any realized settlement, judgement, award, or verdict the individual may receive in a civil legal action." Utah Code § 13-57-102(6). 2 "'Individual' means a person who: (a) resides in this state; and (b) has or may have a pending legal action in this state." Utah Code § 13-57- 102(5).
Legal funding means a payment of $500,000 or less to an individual in exchange for the right to receive an amount out of the potential proceeds of any realized settlement, judgment, award, or verdict the individual may receive in a civil legal action.

Examples of Legal funding in a sentence

  • Legal funding that is made pursuant to this article is not a consumer credit transaction as defined in section 1‑301, subsection 12.[PL 2007, c.

  • Stakeholder expectations and local community needsProject-specific stakeholder expectations and local community needs drive tri-sector partner- ships in a number of key ways:t Contributing to local community developmentt Legal funding frameworkst Integrating local communities and the local workforce with the core business processt Responding to the demands and expectations of NGOs and other special-interest groups.

  • This article does not apply to an advance made by a consumer's attorney to pay for expenses related to preparation for trial.2. Legal funding that is made pursuant to this article is not a consumer credit transaction as defined in section 1-301, subsection 12.3. An advance made to a consumer other than pursuant to the terms of this article is a supervised loan as defined in section 1-301, subsection 40.§ 12-104.

  • Legal funding sources for CFs are contributions from members, charitable donations, funding from government, international organizations and NGOs, and lawful incomes generated.

  • The contingent right to receive an amount of the potential proceeds of a legal claim is assignable by a consumer and that assignment is valid only for the purposes of entering into a non-recourse Consumer Legal funding transaction with a Consumer legal funding provider.


More Definitions of Legal funding

Legal funding means a payment to an individual in exchange for the right to
Legal funding means any amounts loaned to a person involved in a legal action where the person assigns to the legal funding provider the contingent right to receive a part of the proceeds of a settlement, insurance payment, or award of damages obtained in the person’s legal action;
Legal funding means a payment of $500,000 or less to an individual in exchange for the right to
Legal funding means a payment to {a consumer}an individual in exchange for the right to receive an amount out of the potential proceeds of any realized settlement, judgment, award, or verdict the {consumer}individual may receive in a civil legal action.
Legal funding means a transaction in which a company makes a cash payment to
Legal funding means a transaction in which a company makes
Legal funding means a payment to a consumer in exchange for the right to