Vermont Statutes Title 8 Sec. 2256
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Terms Used In Vermont Statutes Title 8 Sec. 2256
- company: means a person that provides consumer litigation funding to a consumer. See
- Consumer: means a natural person who is seeking or has obtained consumer litigation funding for a pending legal claim, provided:
- funding: means a nonrecourse transaction in which a company purchases and a consumer assigns to the company a contingent right to receive an amount of the potential net proceeds of a settlement or judgment obtained from the consumer's legal claim. See
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
§ 2256. Examinations
For the purpose of protecting consumer interests and determining a company‘s financial stability and compliance with the requirements of this chapter, the Commissioner may conduct an examination of a company engaged in the business of consumer litigation funding as often as the Commissioner deems necessary. (Added 2015, No. 128 (Adj. Sess.), § A.1; amended 2019, No. 20, § 35.)