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§ 47-16-106. Required disclosures in litigation financing contract.

TN Code § 47-16-106 (2019) (N/A)
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(a) Litigation financing contracts shall contain the disclosures specified in this section, which shall constitute material terms of the litigation financing contract.

(b) Unless otherwise specified, the disclosures shall be typed in at least fourteen-point, bold font and be placed clearly and conspicuously within the litigation financing contract, as follows:

(1) On the front page under appropriate headings in not less than fourteen-point font, language specifying:

(A) The total amount of money to be provided to the consumer by the litigation financier as part of the litigation financing transaction;

(B) The maximum amount the consumer can be required to provide the litigation financier, including but not limited to, all fees, charges, interest or other consideration, under the terms of the litigation financing contract;

(C) The maximum annual percentage fee, which shall include, but not be limited to, all fees, charges, interest or other consideration received by a litigation financier in consideration for litigation financing; provided, that the consumer may be charged for the litigation financing transaction under the terms of the litigation financing contract;

(D) The following:

(2) Within the body of the litigation financing contract, the following:

(3) Within the body of the litigation financing contract, in all capital letters contained within a box the following:

(4) Located immediately above the place on the litigation financing contract where the consumer's signature is required, the litigation financing contract shall include the following:

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§ 47-16-106. Required disclosures in litigation financing contract.