Me. Stat. tit. 9-A § 12-105

Current through 131st (2023-2024) Legislature Chapter 684

Section 12-105 - Fee requirements

1. A litigation funding provider may not assess fees for any period exceeding 42 months from the date of the contract with the civil litigant.

[2007, c. 394, §1(NEW); 2007, c. 394, §3(AFF).]

2. Fees assessed by a litigation funding provider may compound semiannually but may not compound based on any lesser time period.

[2007, c. 394, §1(NEW); 2007, c. 394, §3(AFF).]

3. In calculating the annual percentage fee or rate of return, a litigation funding provider must include all charges payable directly or indirectly by the consumer, and must compute the rate based only on amounts actually received and retained by a consumer.

[2007, c. 394, §1(NEW); 2007, c. 394, §3(AFF).]

9-A M.R.S. § 12-105

2007, c. 394, § 1 (NEW) . 2007, c. 394, § 3 (AFF) .