Nevada § 604C.300 - Certain acts related to the operation of a consumer funding company prohibited

§ 604C.300. Certain acts related to the operation of a consumer funding company prohibited

1. A consumer litigation funding company shall not: (a) Pay or offer to pay a commission, referral fee or other form of consideration

to an attorney, law firm, medical provider, chiropractic physician, naprapath or physical

therapist, or any employee of such a person, for referring a consumer to the company. (b) Accept a commission, referral fee or other form of consideration from an attorney,

law firm, medical provider, chiropractic physician, naprapath or physical therapist,

or any employee of such a person. (c) Intentionally advertise materially false or misleading information regarding the

products or services of the consumer litigation funding company. (d) Refer a consumer to engage a specific attorney, law firm, medical provider, chiropractic

physician, naprapath or physical therapist, or any employee of such a person. A company may refer a consumer in search of legal representation to a lawyer referral

service operated, sponsored or approved by the State Bar of Nevada or a local bar

association. (e) Except as otherwise provided in subsection 2, knowingly provide consumer litigation

funding to a consumer who has previously assigned or sold a portion of the right of

the consumer to proceeds from his or her legal claim to another company without first

making payment to or purchasing the entire funded amount and charges of that company,

unless a lesser amount is otherwise agreed to in writing by the consumer litigation

funding companies. (f) Receive any right to, or make, any decisions with respect to the conduct, settlement

or resolution of the legal claim of a consumer. (g) Knowingly pay or offer to pay for court costs, filing fees or attorney's fees

during or after the resolution of the legal claim of a consumer using money from a

consumer litigation funding transaction. 2. Two or more consumer litigation funding companies may agree to contemporaneously

provide consumer litigation funding to a consumer if the consumer and the attorney

of the consumer agree to the arrangement in writing. 3. An attorney or law firm retained by the consumer in connection with his or her

legal claim shall not have a financial interest in the consumer litigation funding

company offering consumer litigation funding to that consumer. 4. An attorney who has referred the consumer to his or her retained attorney or law

firm shall not have a financial interest in the consumer litigation funding company

offering consumer litigation funding to that consumer. 5. A consumer litigation funding company shall not use any form of consumer litigation

funding contract in this State unless the contract has been filed with the Commissioner

in accordance with procedures for filing prescribed by the Commissioner.