Illinois § 15

§ 15.

Consumer legal funding company prohibitions. A consumer legal funding company shall not: (1) pay or offer to pay commissions, referral fees, or other forms of consideration to any attorney, law firm, medical provider, chiropractic physician, or physical therapist or any of their employees or agents for referring a consumer to the company; (2) accept any commissions, referral fees, rebates, or other forms of consideration from an attorney, law firm, medical provider, chiropractor, or physical therapist or any of their employees or agents; (3) advertise materially false or misleading information regarding its products or services; (4) refer, in furtherance of an initial consumer legal funding, a customer or potential customer to a specific attorney, law firm, medical provider, chiropractor, or physical therapist or any of their employees; however, if a customer needs legal representation, the company may refer the customer to a local or State bar association referral service or to a legal aid organization; (5) fail to supply a true copy of the executed contract to the attorney for the consumer upon execution and if the consumer or their attorney requests a copy; (6) knowingly provide funding to a consumer who has previously assigned or sold a portion of the consumer's right to proceeds from his or her legal claim without first making payment to or purchasing a prior unsatisfied consumer legal funding company's entire funded amount and contracted charges, unless a lesser amount is otherwise agreed to in writing by the consumer legal funding companies, except that multiple companies may agree to contemporaneously provide funding to a consumer if the consumer and the consumer's attorney consent to the arrangement in writing; (7) receive any right to, nor make any decisions with respect to, the conduct of the underlying legal claim or any settlement or resolution of the legal claim; the right to make such decisions shall remain solely with the consumer and the consumer's attorney in the legal claim; or (8) knowingly pay or offer to pay for court costs, filing fees, or attorney's fees either during or after the resolution of the legal claim using funds from the consumer legal funding transaction. (Source: P.A. 102-987, eff. 5-27-22.)