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Tenn. Code Ann. § 47-16-109

Contingent right to proceeds from legal claim assignable — Priority of liens or rights in proceeds

Known as the Tennessee Litigation Financing Consumer Protection Act

The act spans §§ 47–47 (10 sections).

Acts 2014, ch. 819, § 1; 2017, ch. 212, § 2.

(1) The contingent right to receive an amount of the potential proceeds of a legal claim may be assigned by a consumer and that assignment is valid for the purposes of obtaining litigation financing from a litigation financier.

(2) The lien of a litigation financier on a consumer's legal claim has priority over liens that attach and take effect subsequent to the attachment of the litigation financier's lien to the consumer's legal claim, except for the following: Attorney liens, insurance carrier liens, medical provider liens, or liens based upon subrogation interests or rights of reimbursement related to the consumer's legal claim; and

(3) Child support, Medicare, tax, or any other statutory or governmental lien.

Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.