Nevada Revised Statutes 604C.080 – ‘Consumer litigation funding company’ or ‘company’ defined
Current as of: 2023 | Check for updates
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1. ’Consumer litigation funding company’ or ‘company’ means a person that enters into a consumer litigation funding transaction with a consumer.
Terms Used In Nevada Revised Statutes 604C.080
- Lien: A claim against real or personal property in satisfaction of a debt.
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
2. The term does not include:
(a) An immediate family member of a consumer;
(b) An attorney or accountant who provides services to a consumer;
(c) A medical provider that provides medical services on the basis of a lien against any potential litigation recovery;
(d) A medical factoring company; or
(e) A financial institution or similar entity:
(1) That provides financing to a consumer litigation funding company; or
(2) To which a consumer litigation funding company grants a security interest or transfers any right or interest in a consumer litigation funding transaction.