{"data":{"id":"us-in/ic-24-12-11-1","jurisdiction":"us-in","citation":"IC 24-12-11-1","heading":"Definitions","body":"Sec. 1. The following definitions apply throughout this chapter:\n(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.\n(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:\n(A) required only if the plaintiff prevails in the civil proceeding; and\n(B) sourced entirely from the proceeds of the civil proceeding, whether the proceeds result from a judgment, a settlement, or some other resolution.\nThe 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.\n(3) \"Foreign country of concern\" includes the following:\n(A) A foreign government listed in 15 CFR 791.4.\n(B) A country designated as a threat to critical infrastructure by the governor under IC 1-1-16-8.\n(4) \"Foreign entity of concern\" means a partnership, association, corporation, organization, or other combination of persons:\n(A) organized or incorporated in a foreign country of concern;\n(B) owned or controlled by the government, a political subdivision, or a political party of a foreign country of concern;\n(C) that has a principal place of business in a foreign country of concern; or\n(D) that is owned, organized, or controlled by or affiliated with a foreign organization that has been:\n(i) placed on the federal Office of Foreign Assets Control specially designated nationals and blocked persons list (\"SDN List\"); or\n(ii) designated by the United States Secretary of State as a foreign terrorist organization.\n(5) \"Foreign person\" means:\n(A) an individual who is not a citizen of the United States or an alien lawfully admitted for permanent residence in the United States;\n(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;\n(C) a corporation that is not incorporated in the United States;\n(D) the government, a political subdivision, or a political party of a country other than the United States;\n(E) an entity that is organized under the laws of a country other than the United States;\n(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\n(G) an employee, official, or member of any entity described in clauses (B) through (F).","path":["TITLE 24. TRADE REGULATION","ARTICLE 12. CIVIL PROCEEDING ADVANCE PAYMENTS","Chapter 11. Commercial Litigation Financing"],"source_url":"https://iga.in.gov/ic/2026/Title_24.html#24-12-11-1","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-04T18:50:41Z","sha256":"1871ecf8b9c9554b3b02bb5f0221a976e2b10de0d5b9bb3ce17b8e1d876b68c0","source_id":"us-in","stale":false,"prev":"us-in/ic-24-12-10-1","next":"us-in/ic-24-12-11-2"},"notice":"GroundRules: Original legal text. Not legal advice."}