Okla. Stat. tit. 14A, § 14A-3-814
This is the official text of Okla. Stat. tit. 14A, § 14A-3-814, part of Oklahoma’s Stat. tit. 14A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 14A,." Browse the sections below, each linked to its official government source.
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Prohibited activities or conduct
Official statutory text
PROHIBITED ACTIVITIES OR CONDUCT.
A consumer litigation funder may not:
1. Pay or offer to pay a commission, referral fee, or other
form of consideration to an attorney, law firm, medical provider,
chiropractor, or physical therapist or an employee of such a person
for referring a consumer to the funder;
2. Accept any commission, referral fee, rebate, or other form
of consideration from an attorney, law firm, medical provider,
chiropractor, or physical therapist or an employee of such a person;
3. Intentionally advertise materially false or misleading
information about the funder's products or services;
4. Refer, to further an initial legal funding, a customer or
potential customer to a specific attorney, law firm, medical
provider, chiropractor, or physical therapist or an employee of such
a person, except that the funder may refer a customer or potential
customer who needs legal representation to a local or state bar
association referral service;
5. Fail to promptly supply a copy of the executed agreement to
the consumer's attorney;
6. Knowingly provide funding to a consumer who has previously
assigned or sold a portion of the consumer's right to proceeds from
Oklahoma Statutes - Title 14A. Consumer Credit Code Page 177
the consumer's legal claim without first paying to or purchasing
from a previously unsatisfied consumer litigation funder that
funder's entire funded amount and charges due under that funder's
applicable agreement, unless:
a. a lesser amount is otherwise agreed to in writing by
the consumer litigation funders, or
b. multiple funders have agreed to concurrently provide
funding to a consumer, if the consumer consents to the
arrangement in writing;
7. Make a decision relating to the conduct, settlement, or
resolution of the underlying legal claim, the power of which shall
remain solely with the consumer and the attorney handling the legal
claim; or
8. Knowingly pay or offer to pay, using funds from the
litigation funding transaction, court costs, filing fees, or
attorneys' fees during or after the resolution of the legal claim.
A consumer litigation funder may not:
1. Pay or offer to pay a commission, referral fee, or other
form of consideration to an attorney, law firm, medical provider,
chiropractor, or physical therapist or an employee of such a person
for referring a consumer to the funder;
2. Accept any commission, referral fee, rebate, or other form
of consideration from an attorney, law firm, medical provider,
chiropractor, or physical therapist or an employee of such a person;
3. Intentionally advertise materially false or misleading
information about the funder's products or services;
4. Refer, to further an initial legal funding, a customer or
potential customer to a specific attorney, law firm, medical
provider, chiropractor, or physical therapist or an employee of such
a person, except that the funder may refer a customer or potential
customer who needs legal representation to a local or state bar
association referral service;
5. Fail to promptly supply a copy of the executed agreement to
the consumer's attorney;
6. Knowingly provide funding to a consumer who has previously
assigned or sold a portion of the consumer's right to proceeds from
Oklahoma Statutes - Title 14A. Consumer Credit Code Page 177
the consumer's legal claim without first paying to or purchasing
from a previously unsatisfied consumer litigation funder that
funder's entire funded amount and charges due under that funder's
applicable agreement, unless:
a. a lesser amount is otherwise agreed to in writing by
the consumer litigation funders, or
b. multiple funders have agreed to concurrently provide
funding to a consumer, if the consumer consents to the
arrangement in writing;
7. Make a decision relating to the conduct, settlement, or
resolution of the underlying legal claim, the power of which shall
remain solely with the consumer and the attorney handling the legal
claim; or
8. Knowingly pay or offer to pay, using funds from the
litigation funding transaction, court costs, filing fees, or
attorneys' fees during or after the resolution of the legal claim.
Status: in_force · Read it on the official government site
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