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Bill Title: Civil proceeding advance payment transactions. Defines a "civil proceeding advance payment transaction", or "CPAP transaction", as a nonrecourse transaction in which a person (CPAP provider) provides to a consumer claimant in a civil proceeding a funded amount, the repayment of which is: (1) required only if the consumer claimant prevails in the civil proceeding; and (2) sourced from the proceeds of the civil proceeding. Requires a CPAP provider to register with the department of financial institutions (department). Sets forth requirements, including disclosure requirements, for a contract (CPAP contract) entered into by a CPAP provider and a consumer claimant. Sets forth

Spectrum: Bipartisan Bill

Status: (Enrolled - Dead) 2015-04-21 - House Advisors appointed: Eberhart, Washburne and DeLaney [SB0373 Detail]

Download: Indiana-2015-SB0373-Engrossed.pdf

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