(5) |
(a) |
The attorney general may not enter into a contingent fee contract with a private attorney that provides for the private attorney to receive a contingent fee, exclusive of reasonable costs and expenses, that exceeds:
(i) |
(A) |
25% of the amount recovered, if the amount recovered is no more than $10,000,000; |
(B) |
25% of the first $10,000,000 recovered, plus 20% of the amount recovered that exceeds $10,000,000, if the amount recovered is over $10,000,000 but no more than $15,000,000; |
(C) |
25% of the first $10,000,000 recovered, plus 20% of the next $5,000,000 recovered, plus 15% of the amount recovered that exceeds $15,000,000, if the amount recovered is over $15,000,000 but no more than $20,000,000; and |
(D) |
25% of the first $10,000,000 recovered, plus 20% of the next $5,000,000 recovered, plus 15% of the next $5,000,000 recovered, plus 10% of the amount recovered that exceeds $20,000,000, if the amount recovered is over $20,000,000; or |
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(b) |
A provision of a contingent fee contract that is inconsistent with a provision of this section is invalid unless, before the contract is executed, the contingent fee contract provision is approved by a majority of the attorney general, state treasurer, and state auditor. |
(c) |
A contingent fee under a contingent fee contract may not be based on the imposition or amount of a penalty or civil fine. |
(d) |
A contingent fee under a contingent fee contract may be paid only on amounts actually recovered by the state. |
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