NRS 604C.370 Additional required disclosures.

250 words·~1 min read·/nv/chapter-604c-consumer-litigation-funding/604c-370·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

1. A consumer litigation funding contract must include a written disclosure, signed by the consumer that is typed in at least a 12-point font.

2. The disclosure described in subsection 1 must be separate from the consumer litigation funding contract described in NRS 604C.360 .

3. The disclosure described in subsection 1 must include, without limitation:

(a)A summary of all applicable charges and fees;

(b)The full cost of the consumer litigation funding transaction, written in bold font;

(c)The full amount of the consumer litigation funding;

(d)A statement that the attorney retained by the consumer in the legal claim of the consumer is being retained on a contingency basis pursuant to a written fee agreement;

(e)A statement that the consumer is fully informed and aware that all proceeds of the legal claim of the consumer will be disbursed via the trust account of the retained attorney or a settlement fund established to receive the proceeds of the legal claim on behalf of the consumer;

(f)A statement that the retained attorney has not received and will not receive a referral fee or other consideration from the consumer litigation funding company in connection with the consumer litigation funding transaction; and

(g)An acknowledgment, signed by the consumer, that the consumer was fully informed and aware of the charges and fees and the full cost of the consumer litigation funding transaction at the time of the execution of the consumer litigation funding contract.