Nevada Revised Statutes 604C.320 – License required
Current as of: 2023 | Check for updates
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1. A person shall not engage in the business of a consumer litigation funding company in this State without having first obtained a license from the Commissioner pursuant to this chapter.
Terms Used In Nevada Revised Statutes 604C.320
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
2. For the purpose of this section, a person is ‘engaged in the business of a consumer litigation funding company’ if the person:
(a) Solicits or engages in consumer litigation funding transactions in this State; or
(b) Is located in this State and solicits or engages in consumer litigation funding transactions outside of this State.
3. Any person and the several members, officers, directors, agents and employees thereof who violate or participate in the violation of this section are guilty of a misdemeanor.