1. A consumer litigation funding company shall not: (a) Pay or offer to pay a commission, referral fee or other form of consideration to an attorney, law firm, medical provider, chiropractor or physical therapist, or any employee of such a person, for referring a consumer to the company. (b) Accept a commission, referral fee or […]
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 […]
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. 2. For the purpose of this section, a person is “engaged in the business of a consumer litigation funding company” if the person: (a) […]
A licensee shall not conduct the business of a consumer litigation funding company under any name or at a place other than stated in the license. Nothing in this section shall be construed to prohibit: 1. Consumer litigation funding transactions by mail; or 2. Accommodations for a consumer when necessitated by hours of employment, sickness […]
The provisions of NRS 604C.320 shall apply to any person who seeks to evade its application by any device, subterfuge or pretense whatever, including, but not thereby limiting the generality of the foregoing: 1. The loan, forbearance, use or sale of credit (as guarantor, surety, endorser, comaker or otherwise), money, goods, or things in action. […]
1. A consumer litigation funding contract must: (a) Be written in a clear and comprehensible language that is understandable to an ordinary layperson. (b) Be filled out completely when presented to the consumer for signature. (c) Contain a provision advising a consumer of the right to cancel the contract. Such a provision must provide that […]
A consumer litigation funding contract must contain the disclosures specified in this section, which shall constitute material terms of the contract. Except as otherwise provided in this section, the disclosure shall be typed in at least 12-point bold type or font and be placed clearly and conspicuously within the contract, as follows: 1. On the […]
1. A consumer litigation funding contract must include a written disclosure, signed by the consumer that is typed in at least a 12-point font. 2. The disclosure described in subsection 1 must be separate from the consumer litigation funding contract described in NRS 604C.360. 3. The disclosure described in subsection 1 must include, without limitation: […]
If a consumer cancels a consumer litigation funding contract pursuant to NRS 604C.350, the consumer litigation funding company shall promptly forward notice of the cancellation to the attorney or law firm retained by the consumer in the legal claim of the consumer. (Added to NRS by 2019, 2404)
Every licensee shall maintain assets of at least $50,000 either used or readily available for use in the conduct of the business of each licensed office. (Added to NRS by 2019, 2411)
A licensee who has an office or other place of business located outside of this State shall file with the Commissioner the information required pursuant to NRS 77.310 and continuously maintain a registered agent for service of legal process. Such agent must be an attorney who is licensed to practice law in this State and […]
