Nebraska Statutes 25-3304. Civil litigation funding company;prohibited acts
(1) The civil litigation funding company shall not pay or offer to pay commissions or referral fees to any attorney or employee of a law firm or to any medical provider, chiropractor, or physical therapist or their employees for referring a consumer to the civil litigation funding company.
Terms Used In Nebraska Statutes 25-3304
- Attorney: shall mean attorney at law. See Nebraska Statutes 49-801
- Company: shall include any corporation, partnership, limited liability company, joint-stock company, joint venture, or association. See Nebraska Statutes 49-801
- Company shall: include any corporation, partnership, limited liability company, joint-stock company, joint venture, or association. See Nebraska Statutes 49-801
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
(2) The civil litigation funding company shall not accept any commissions, referral fees, or rebates from any attorney or employee of a law firm or any medical provider, chiropractor, or physical therapist or their employees.
(3) The civil litigation funding company shall not advertise false or intentionally misleading information regarding such company’s product or services.
(4) The civil litigation funding company shall not knowingly provide nonrecourse civil litigation funding to a consumer who has previously sold and assigned an amount of such consumer’s potential proceeds from the legal claim to another civil litigation funding company without first buying out that civil litigation funding company’s entire accrued balance unless otherwise agreed in writing by the civil litigation funding companies and the consumer.