The term “contingent fees” as used in this chapter means any agreement regarding fees under which the compensation is determined, in whole or in part, with the results obtained in the suit for damages for fault or negligence due to medicohospital professional malpractice against a health care professional or a health care institution.
With the exception of minors and disabled persons, for which the limits of contingent fees provided in § 742 of Title 4, shall prevail, attorneys shall not agree to or collect contingent fees to represent a person in a suit for damages for fault or negligence due to malpractice against a health care professional or a health care institution, in excess of the following compensation limits:
Compensation Fees (a) First $75,000 33% (b) First $75,001 to $150,000 $24,750 plus 25% of the excess $75,000 (c) $150,001 or more $43,500 plus 20% of the excess $150,000
Notwithstanding the above, the court may authorize the charging of contingent fees in these cases up to a maximum of 33% of the final product of the judgment, transaction or agreement, if the attorney should request it and can justify it.
This limit shall be of application [to any] transaction, arbitration award or judicial judgment, or if the person compensated is a nondisabled adult, except for the provisions of subsection (5) of this section.
History —Ins. Code, added as § 41.110 on Dec. 30, 1986, No. 6, p. 927, § 5, eff. 60 days after Dec. 30, 1986.