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Me. Rev. Stat. tit. 9-A, § 12-105

Fee requirements

PL 2007, c. 394, §1 (NEW)

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.

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

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.

Official source: Maine Legislature. Reproduced from public-domain Maine statutes; confirm against the official source for the current text. Not legal advice.