West Virginia § 46A-6N-8 Contingency rights; assignments; priority of lien, subrogation interest, or right of reimbursement

West Virginia Statutes

§ 46A-6N-8 — Contingency rights; assignments; priority of lien, subrogation interest, or right of reimbursement

West Virginia·Ch. 46A WEST VIRGINIA CONSUMER CREDIT AND PROTECTION ACT·Art. 6N CONSUMER LITIGATION FINANCING

(a)The contingent right to receive an amount of the potential proceeds of a legal claim may be assigned by a consumer, and that assignment is valid for the purposes of obtaining litigation financing from a litigation financier.

(b)The lien of a litigation financier on a consumer’s legal claim has priority over liens that attach and take effect subsequent to the attachment of the litigation financier’s lien to the consumer’s legal claim, except for the following:

(1)Attorney liens, insurance carrier liens, medical provider liens, or liens based upon subrogation interests or rights of reimbursement related to the consumer’s legal claim; and

(2)Child support, Medicare, tax, or any other statutory or governmental lien.

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(a) The contingent right to receive an amount of the potential proceeds of a legal claim may be assigned by a consumer, and that assignment is valid for the purposes of obtaining litigation financing from a litigation financier.

(b) The lien of a litigation financier on a consumer’s legal claim has priority over liens that attach and take effect subsequent to the attachment of the litigation financier’s lien to the consumer’s legal claim, except for the following:

(1) Attorney liens, insurance carrier liens, medical provider liens, or liens based upon subrogation interests or rights of reimbursement related to the consumer’s legal claim; and

(2) Child support, Medicare, tax, or any other statutory or governmental lien.

West Virginia § 46A-6N-8 (Contingency rights; assignments; priority of lien, subrogation interest, or right of reimbursement) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.