Nevada Revised Statutes 604C.310 – Limitations on amount to be paid to consumer litigation funding company under consumer litigation funding contract
Current as of: 2023 | Check for updates
|
Other versions
1. A consumer litigation funding company shall require the amount to be paid to the company under a consumer litigation funding contract to be set as a predetermined amount based upon intervals of time from the funding date though the resolution date. The amount must not exceed the funded amount plus charges not to exceed a rate of 40 percent annually.
Terms Used In Nevada Revised Statutes 604C.310
- Contract: A legal written agreement that becomes binding when signed.
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
2. The amount to be paid to a company under a consumer litigation funding contract must not be determined as a percentage of the recovery of the legal claim of a consumer.