United States — Maine Act or statute

United States — Maine legislation

Maine Revised Statutes, Title 9-A, § 12-102: Definitions, 2007

This section defines “consumer,” “legal funding,” and “litigation funding provider.”

civil claimslegal funding

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“This section defines “consumer,” “legal funding,” and “litigation funding provider.””

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    Enacted 2007 · Source version 1 Oct 2025. The date shown identifies this source expression and should not be treated as proof that no later change exists.

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Definitions

This section defines “consumer,” “legal funding,” and “litigation funding provider.”

Section 12-102

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Source record from legislature.maine.gov · Enacted 2007 · Source version 1 Oct 2025

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Interpretation
§ 12-102DefinitionsInterpretation

This section defines “consumer,” “legal funding,” and “litigation funding provider.”

As used in this article, unless the context otherwise indicates, the following terms have the following meanings. [PL 2007, c. 394, §1 (NEW); PL 2007, c. 394, §3 (AFF).] 1. "Consumer" means a person or entity residing or domiciled in this State with a pending civil claim or action and represented by an attorney. [PL 2007, c. 394, §1 (NEW); PL 2007, c. 394, §3 (AFF).] 2. "Legal funding" means a transaction in which a company makes a cash payment to a consumer in exchange for the right to receive an amount out of the potential proceeds of any realized settlement, judgment, award or verdict the consumer may receive in a civil claim or action. If no proceeds in the civil claim or action are received, the consumer is not required to pay the company. [PL 2007, c. 394, §1 (NEW); PL 2007, c. 394, §3 (AFF).] 3. "Litigation funding provider" means a person or entity, wherever located, that provides legal funding to a consumer. [PL 2007, c. 394, §1 (NEW); PL 2007, c. 394, §3 (AFF).]
Section 12-102Verify source

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  • 1 Oct 2025 · currentEnglish

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