Indiana Code 24-12-11-1. Definitions
(1) “Commercial litigation financier” means a person that enters into, or offers to enter into, a commercial litigation financing agreement with a plaintiff in a civil proceeding. The term does not include a nonprofit organization.
Terms Used In Indiana Code 24-12-11-1
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Judgment: means all final orders, decrees, and determinations in an action and all orders upon which executions may issue. See Indiana Code 1-1-4-5
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Plaintiff: The person who files the complaint in a civil lawsuit.
- Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- United States: includes the District of Columbia and the commonwealths, possessions, states in free association with the United States, and the territories. See Indiana Code 1-1-4-5
(A) required only if the plaintiff prevails in the civil proceeding; and
(B) sourced entirely from the proceeds of the civil proceeding, whether the proceeds result from a judgment, a settlement, or some other resolution.
The term does not include a civil proceeding advance payment transaction, an agreement between an attorney and a client for the attorney to provide legal services on a contingency fee basis or to advance the client’s legal costs, a health insurance plan or agreement, a repayment agreement of a financial institution if repayment is not contingent upon the outcome of the civil proceeding, a funding agreement to a nonprofit organization that represents a client on a pro bono basis, or an agreement of an assigned claim to prosecute an environmental contamination matter.
(3) “Foreign country of concern” includes the following:
(A) A foreign government listed in 15 C.F.R. § 7.4.
(B) A country designated as a threat to critical infrastructure by the governor under IC 1-1-16-8.
(4) “Foreign entity of concern” means a partnership, association, corporation, organization, or other combination of persons:
(A) organized or incorporated in a foreign country of concern;
(B) owned or controlled by the government, a political subdivision, or a political party of a foreign country of concern;
(C) that has a principal place of business in a foreign country of concern; or
(D) that is owned, organized, or controlled by or affiliated with a foreign organization that has been:
(i) placed on the federal Office of Foreign Assets Control specially designated nationals and blocked persons list (“SDN List”); or
(ii) designated by the United States Secretary of State as a foreign terrorist organization.
(5) “Foreign person” means:
(A) an individual who is not a citizen of the United States or an alien lawfully admitted for permanent residence in the United States;
(B) an unincorporated association, of which a majority of members are not citizens of the United States or aliens lawfully admitted for permanent residence in the United States;
(C) a corporation that is not incorporated in the United States;
(D) the government, a political subdivision, or a political party of a country other than the United States;
(E) an entity that is organized under the laws of a country other than the United States;
(F) an entity that has a principal place of business in a country other than the United States and that has shares or other ownership interest held by the government or a government official of a country other than that of the United States; and
(G) an employee, official, or member of any entity described in clauses (B) through (F).
As added by P.L.140-2024, SEC.2.