1. A. A consumer litigation funding agreement shall:

   1. 1. Be in writing;
   2. 2. Contain the initials of the consumer on each page; and
   3. 3. Be otherwise complete when presented to the consumer for signature.

2. B. A consumer litigation funding agreement may be entered into only if the agreement relates to:

   1. 1. An existing legal claim that has been made by or on behalf of the consumer against another person, including the other person's insurer or the consumer's own insurer; or
   2. 2. An existing proceeding in which the consumer's legal claim is intended to be resolved and with regard to which the consumer is represented by an attorney.

Laws 2013, SB 1016, c. 386, § 5, eff. November 1, 2013.