{"data":{"id":"us-in/ic-24-12-1-0.5","jurisdiction":"us-in","citation":"IC 24-12-1-0.5","heading":"\"Civil proceeding advance payment transaction\"","body":"Sec. 0.5. (a) As used in this article and subject to IC 24-12-6-2, \"civil proceeding advance payment transaction\", or \"CPAP transaction\", means a nonrecourse transaction in which a CPAP provider provides a funded amount to a consumer claimant to use for any purpose other than prosecuting the consumer claimant's civil proceeding, if the repayment of the funded amount is:\n(1) required only if the consumer claimant prevails in the civil proceeding; and\n(2) sourced from the proceeds of the civil proceeding, whether the proceeds result from a judgment, a settlement, or some other resolution.\n(b) The term includes a transaction:\n(1) that is termed or described as:\n(A) a purchase; or\n(B) an assignment of an interest in a consumer claimant's civil proceeding, or in the proceeds of a consumer claimant's civil proceeding;\nby the CPAP provider; or\n(2) with respect to which the CPAP provider sets forth in a CPAP contract, an agreement by:\n(A) the CPAP provider to purchase from the consumer claimant; or\n(B) the consumer claimant to assign to the CPAP provider;\na contingent right to receive a share of the potential proceeds of the consumer claimant's civil proceeding, whether the proceeds result from a judgment, a settlement, or some other resolution.","path":["TITLE 24. TRADE REGULATION","ARTICLE 12. CIVIL PROCEEDING ADVANCE PAYMENTS","Chapter 1. Definitions"],"source_url":"https://iga.in.gov/ic/2026/Title_24.html#24-12-1-0.5","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-04T18:50:41Z","sha256":"a748af70fcd179ae96f39bdd694ceb261355fdd74c72e408225bf8d38348816b","source_id":"us-in","stale":false,"prev":"us-in/ic-24-11-5-2","next":"us-in/ic-24-12-1-1"},"notice":"GroundRules: Original legal text. Not legal advice."}