§ 2251. Definitions As used in this chapter: (1) “Charges” means the amount a consumer owes to a company in addition to the funded amount and includes an administrative fee, origination fee, underwriting fee, processing fee, and any other fee regardless of how the fee is denominated, including amounts denominated as interest or rate. (2) […]
§ 2252. Registration; financial stability (a) A company shall not engage in the business of consumer litigation funding without first filing a registration with the Commissioner on a form prescribed by the Commissioner and submitting a registration fee and proof of financial stability. (b) A company shall file with the Commissioner evidence of its financial […]
§ 2253. Contracts; disclosures and requirements (a) A contract shall be written in a clear and coherent manner using words with common, everyday meanings to enable the average consumer who makes a reasonable effort under ordinary circumstances to read and understand the terms of the contract without having to obtain the assistance of a professional. […]
§ 2254. Prohibited acts (a) A consumer litigation funding company shall not engage in any of the following conduct or practices: (1) Pay or offer to pay commissions, referral fees, or any other form of consideration to any attorney, law firm, health care provider, health care facility, or an employee of a law firm, health […]
§ 2255. Effect of communication on privileges A communication between a consumer’s attorney and the company shall not be discoverable or limit, waive, or abrogate the scope or nature of any statutory or common-law privilege, including the work-product doctrine and the attorney-client privilege. (Added 2015, No. 128 (Adj. Sess.), § A.1.)
§ 2256. Examinations For the purpose of protecting consumer interests and determining a company’s financial stability and compliance with the requirements of this chapter, the Commissioner may conduct an examination of a company engaged in the business of consumer litigation funding as often as the Commissioner deems necessary. (Added 2015, No. 128 (Adj. Sess.), § […]
§ 2259. Violations an unfair or deceptive act (a) A company’s failure to comply with the requirements of this part, including this chapter, shall constitute an unfair or deceptive act in commerce enforceable under 9 V.S.A. chapter 63, the Consumer Protection Act. (b) The powers vested in the Commissioner by this chapter shall be in […]
§ 2260. Annual reports (a) Annually, on or before April 1, each company registered under this chapter shall file a report with the Commissioner under oath and in the form and manner prescribed by the Commissioner. In addition to information required by section 2120 of this title, the report shall include any information the Commissioner […]
