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Montana Title 31. Credit Transactions and Relationships § 31-4-118. Exemptions

Current as of January 01, 2024 | Updated by Findlaw Staff

This part does not apply to the following:

(1) a nonprofit entity that provides litigation financing, directly or indirectly, for the benefit of the nonprofit or one or more of its members without receiving, in consideration for the litigation financing:

(a) the payment of interest, fees, or other consideration; or

(b) except for in-house counsel of the nonprofit, any right to recovery or payment from the amount of any judgment, award, settlement, verdict, or other form of monetary relief obtained in the civil action, administrative proceeding, claim, or cause of action;

(2) any litigation financing provided by an entity engaged in commerce or business activity, but only if the entity does not:

(a) charge or collect any interest, fees, or other consideration;

(b) retain or receive any financial interest in the outcome of the civil action, administrative proceeding, claim, or cause of action; or

(c) receive any right to recovery or payment from the amount of any judgment, award, settlement, verdict, or other form of monetary relief obtained in the civil action, administrative proceeding, claim, or cause of action; or

(3) a regulated lender that does not receive, in consideration for loaning money to any person, a right to receive payment from the value of any proceeds or other consideration realized from any judgment award, settlement, verdict, or other form of monetary relief any person may receive or recover in relation to any civil action, administrative proceeding, claim, or cause of action.

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Cite this article: FindLaw.com - Montana Title 31. Credit Transactions and Relationships § 31-4-118. Exemptions - last updated January 01, 2024 | https://codes.findlaw.com/mt/title-31-credit-transactions-and-relationships/mt-st-31-4-118/

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