2022 Nevada Revised Statutes
Chapter 604C - Consumer Litigation Funding
NRS 604C.220 - Assignment of legal claim; applicability.
1. The contingent right to receive an amount of the potential proceeds of a legal claim is assignable by a consumer.
2. Nothing in this chapter shall be construed to cause any consumer litigation funding transaction conforming to this chapter to be deemed a loan or to be subject to any of the provisions of law governing loans. A consumer litigation funding transaction that complies with this chapter is not subject to any other statutory or regulatory provisions governing loans or investment contracts. If there is a conflict between the provisions of this chapter and any other statute, the provisions of this chapter control.
3. Only a lien imposed by an attorney pursuant to NRS 18.015 that is related to the legal claim of the consumer or a lien imposed by Medicare that is related to the legal claim of a consumer takes priority over any lien imposed by a consumer litigation funding company. All other liens take priority by normal operation of law.
(Added to NRS by 2019, 2406)
