South Carolina Transparency in Consumer Legal Funding Act regulates consumer legal funding contracts.

The South Carolina Transparency in Consumer Legal Funding Act establishes rules for consumer legal funding contracts. These contracts allow consumers to assign a contingent right to receive proceeds from a legal claim to a consumer legal funding company. The act mandates that all such contracts be written clearly, contain specific disclosures, and be subject to state regulation. It prohibits certain actions by consumer legal funding companies, such as paying commissions or offering inducements to consumers.

South Carolina Transparency in Consumer Legal Funding Act regulates consumer legal funding contracts.

The South Carolina Transparency in Consumer Legal Funding Act establishes rules for consumer legal funding contracts. These contracts allow consumers to assign a contingent right to receive proceeds from a legal claim to a consumer legal funding company. The act mandates that all such contracts be written clearly, contain specific disclosures, and be subject to state regulation. It prohibits certain actions by consumer legal funding companies, such as paying commissions or offering inducements to consumers.