§ 25-3302 — Terms, defined

Nebraska § 25-3302

• Jurisdiction: Nebraska
• Ch. 25: Courts; Civil Procedure

Text

For purposes of the
Nonrecourse Civil Litigation Act:
(1) Civil litigation
funding company means a person or entity that enters into a nonrecourse civil
litigation funding transaction with a consumer;
(2) Consumer means a person residing
or domiciled in Nebraska or who elects to enter into a transaction under the
act, whether it be in person, over the Internet, by facsimile, or by any other
electronic means, and who has a pending legal claim and is represented by
an attorney at the time he or she receives the nonrecourse civil litigation
funding;
(3) Legal claim means a civil claim or action; and
(4) Nonrecourse
civil litigation funding means a transaction in which a civil litigation funding
company purchases and a consumer assigns the contingent right to receive an
amount of the potential proceeds of the consumer's legal claim to the civil
litigation funding company out of the proceeds of any realized settlement,
judgment, award, or verdict the consumer may receive in the legal claim.

Legislative History

Source: Laws 2010, LB1094, § 2.