IC 24-12-11-1: Definitions

Sec. 1. The following definitions apply throughout this chapter:

(1) "Commercial litigation financier" means a person that enters into, or offers to enter into, a commercial litigation financing agreement with a plaintiff in a civil proceeding. The term does not include a nonprofit organization.

(2) "Commercial litigation financing agreement" means a nonrecourse agreement that a commercial litigation financier enters into, or offers to enter into, to provide funding to support a plaintiff or the plaintiff's attorney in prosecuting the civil proceeding, if the repayment of the funded amount is:

(A) required only if the plaintiff prevails in the civil proceeding; and

(B) sourced entirely from the proceeds of the civil proceeding, whether the proceeds result from a judgment, a settlement, or some other resolution.

The term does not include a civil proceeding advance payment transaction, an agreement between an attorney and a client for the attorney to provide legal services on a contingency fee basis or to advance the client's legal costs, a health insurance plan or agreement, a repayment agreement of a financial institution if repayment is not contingent upon the outcome of the civil proceeding, a funding agreement to a nonprofit organization that represents a client on a pro bono basis, or an agreement of an assigned claim to prosecute an environmental contamination matter.

(3) "Foreign country of concern" includes the following:

(A) A foreign government listed in 15 CFR 791.4.

(B) A country designated as a threat to critical infrastructure by the governor under IC 1-1-16-8.

(4) "Foreign entity of concern" means a partnership, association, corporation, organization, or other combination of persons:

(A) organized or incorporated in a foreign country of concern;

(B) owned or controlled by the government, a political subdivision, or a political party of a foreign country of concern;

(C) that has a principal place of business in a foreign country of concern; or

(D) that is owned, organized, or controlled by or affiliated with a foreign organization that has been:

(i) placed on the federal Office of Foreign Assets Control specially designated nationals and blocked persons list ("SDN List"); or

(ii) designated by the United States Secretary of State as a foreign terrorist organization.

(5) "Foreign person" means:

(A) an individual who is not a citizen of the United States or an alien lawfully admitted for permanent residence in the United States;

(B) an unincorporated association, of which a majority of members are not citizens of the United States or aliens lawfully admitted for permanent residence in the United States;

(C) a corporation that is not incorporated in the United States;

(D) the government, a political subdivision, or a political party of a country other than the United States;

(E) an entity that is organized under the laws of a country other than the United States;

(F) an entity that has a principal place of business in a country other than the United States and that has shares or other ownership interest held by the government or a government official of a country other than that of the United States; and

(G) an employee, official, or member of any entity described in clauses (B) through (F).