(b) contain a right of rescission permitting the individual to cancel the agreement
without penalty or further obligation, if the individual returns to the maintenance
funding provider the full amount of the disbursed funds:
(i) within five business days after the day on which the individual and maintenance
funding provider enter the agreement; and
(ii)(A) in person by delivering the maintenance funding provider's uncashed check
to the maintenance funding provider's office; or
(B) by insured, certified, or registered United States mail to the address specified
in the maintenance funding agreement in the form of the maintenance funding provider's
uncashed check or a registered or certified check or money order;
(d) include the amount of money the maintenance funding provider provides to the individual;
(e) include an itemization of one-time charges;
(f) include a payment schedule that:
(i) includes the funded amount and all charges; and
(ii) lists the total amount of any realized settlement, judgment, award, or verdict
to be paid to the maintenance funding provider at the end of each six-month period,
if the contract is satisfied during that period; and
(g) include a provision that the maintenance funding agreement includes no charge
or fee other than the charges and fees disclosed in the maintenance funding agreement;
(h) include a provision that:
(i) if there are no available proceeds from the legal action, the individual will
owe the maintenance funding provider nothing; and
(ii) the maintenance funding provider's total charges will be paid only to the extent
there are available proceeds from the legal action after the settlement of all liens,
fees, and other costs.
(2) A maintenance funding agreement may not require an individual to make a payment
to the maintenance funding provider in an amount determined as a percentage of the
recovery from the legal action.
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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