"Consumer litigation funding transaction" defined.

1. Law
2. Nevada Revised Statutes
3. Consumer Litigation Funding
4. "Consumer litigation funding transaction" defined.

"Consumer litigation funding transaction" means a nonrecourse transaction in which:

1. A consumer litigation funding company provides consumer litigation funding to a consumer in an amount that does not exceed $500,000; and

2. The consumer assigns to the company a contingent right to receive an amount of the potential proceeds of a settlement, judgment, award or verdict obtained in the legal claim of the consumer.

(Added to NRS by 2019, 2401)

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