Nev. Rev. Stat. § 604C.100

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1

Section 604C.100 - "Consumer litigation funding transaction" defined

"Consumer litigation funding transaction" means a nonrecourse transaction in which:

1. A consumer litigation funding company provides consumer litigation funding to a consumer in an amount that does not exceed $500,000; and

2. The consumer assigns to the company a contingent right to receive an amount of the potential proceeds of a settlement, judgment, award or verdict obtained in the legal claim of the consumer.

NRS 604C.100

Added to NRS by 2019, 2401

Added by 2019, Ch. 378,§10, eff. 10/1/2019.