Regulates consumer legal funding providers in New Jersey.
This bill regulates consumer legal funding providers in New Jersey. It defines consumer legal funding as a transaction where a company purchases and a consumer sells a contingent right to receive an amount of the potential proceeds of a legal claim. The bill requires consumer legal funding companies to register with the Department of Banking and Insurance and meet certain criteria for registration.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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