Indiana Code 4-6-16-4. Amount of contingency fee
(1) the amount of state funds that are received in a settlement agreement or court order described in IC 4-12-16-3(a); multiplied by
Terms Used In Indiana Code 4-6-16-4
- 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
- contingency fee: means a fee for legal services:
Indiana Code 4-6-16-2
- fund: means the attorney general contingency fee fund established by section 6 of this chapter. See Indiana Code 4-6-16-3
- 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.
(b) The applicable contingency fee percentage for purposes of subsection (a) shall not exceed the aggregate contingency fee sum of the following:
(1) Twenty-five percent (25%) of any recovery that exceeds two million dollars ($2,000,000) and that is not more than ten million dollars ($10,000,000).
(2) Twenty percent (20%) of any part of a recovery of more than ten million dollars ($10,000,000) and not more than fifteen million dollars ($15,000,000).
(3) Fifteen percent (15%) of any part of a recovery of more than fifteen million dollars ($15,000,000) and not more than twenty million dollars ($20,000,000).
(4) Ten percent (10%) of any part of a recovery of more than twenty million dollars ($20,000,000) and not more than twenty-five million dollars ($25,000,000).
(5) Five percent (5%) of any part of a recovery of more than twenty-five million dollars ($25,000,000).
(c) Money recovered as a contingency fee shall be deposited in the fund. The contingency fee amount shall first be deposited in the fund before the remaining recovered state funds are deposited in the agency settlement fund under IC 4-12-16-3(a).
As added by P.L.201-2023, SEC.60.