Nebraska Statutes 25-3305. Assessment of fees; restrictions;calculations
Current as of: 2023 | Check for updates
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(1) A civil litigation funding company may not assess fees for any period exceeding thirty-six months from the date of the contract with the consumer.
Terms Used In Nebraska Statutes 25-3305
- 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
- Contract: A legal written agreement that becomes binding when signed.
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
(2) Fees assessed by the civil litigation funding company shall compound at least semiannually but shall not compound based on any lesser time period.
(3) In calculating the annual percentage fee or rate of return, a civil litigation funding company shall include all charges payable directly or indirectly by the consumer and shall compute the rate based only on amounts actually received and retained by a consumer.