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2021 Tennessee Code
Title 47 - Commercial Instruments and Transactions
Chapter 16 - Tennessee Litigation Financing Consumer Protection Act
§ 47-16-109. Contingent Right to Proceeds From Legal Claim Assignable — Priority of Liens or Rights in Proceeds
Universal Citation: TN Code § 47-16-109 (2021)
- 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.
- 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:
- 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
- Child support, Medicare, tax, or any other statutory or governmental lien.
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