{"data":{"id":"us-ok/okla.-stat.-tit.-14a-14a-3-801","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 14A, § 14A-3-801","heading":"Definitions","body":"DEFINITIONS.\n\nAs used in this act:\n\n1. \"Administrator\" means the Administrator of Consumer Credit;\n\n2. \"Advertise\" means to publish or disseminate a written,\n\nelectronic, or printed communication, or to publish, disseminate,\n\ncirculate, or place directly or indirectly before the public a\n\ncommunication by means of a recorded telephone message or a\n\ncommunication transmitted on radio, television, the Internet, or\n\nsimilar communications media, including film strips, motion\n\npictures, and videos, for the purpose of inducing a person to enter\n\ninto a consumer litigation funding agreement;\n\n3. \"Charge\" or \"charges\" means the amount paid to a consumer\n\nlitigation funder by or on behalf of the consumer, in addition to\n\nthe funded amount provided by or on behalf of the funder to a\n\nconsumer. The term includes an administrative fee, origination fee,\n\nunderwriting fee, and other fees, regardless of how the fee is\n\ndenominated, and any amounts denominated as interest;\n\n4. \"Consumer\" means an individual who has a pending legal claim\n\nand who:\n\na. resides in this state, or\n\nb. has a legal claim in this state;\n\n5. \"Consumer litigation funder\" or \"funder\" means a person that\n\nenters into a consumer litigation funding agreement with a consumer.\n\nThe term does not include:\n\na. an attorney who, at the time money is provided to or\n\non behalf of a consumer under a consumer litigation\n\nfunding agreement, has an attorney-client relationship\n\nwith the consumer concerning the consumer's legal\n\nclaim,\n\nb. an accountant who provides accounting services to the\n\nconsumer, or\n\nc. an immediate family member of the consumer;\n\n6. \"Consumer litigation funding agreement\" means an agreement:\n\na. under which money is provided to or on behalf of a\n\nconsumer by a consumer litigation funder for a purpose\n\nother than prosecuting the consumer's legal claim, and\n\nb. the repayment of the money is in accordance with a\n\nlitigation funding transaction the terms of which are\n\nincluded as part of the consumer litigation funding\n\nagreement;\n\n7. \"Funded amount\" means the amount provided to or on behalf of\n\nthe consumer under a consumer litigation funding agreement. The\n\nterm does not include a charge;\n\n8. \"Funding date\" means the date on which the consumer\n\nlitigation funder:\n\na. transfers the funded amount to the consumer by\n\npersonal delivery or by wire, ACH debit, or other\n\nelectronic means, or\n\nb. mails the funded amount to the consumer by insured,\n\ncertified, or registered United States mail;\n\n9. \"Immediate family member\" means:\n\na. a parent, sibling, spouse, grandparent, or grandchild\n\nof an individual, or\n\nb. a child related by blood, adoption, or marriage to an\n\nindividual;\n\n10. \"Legal claim\" includes:\n\na. a civil action,\n\nb. an alternative dispute resolution proceeding, or\n\nc. an administrative proceeding before an agency of this\n\nstate, except for workers' compensation claims, which\n\nare not assignable;\n\n11. \"Litigation funding transaction\" means a non-recourse\n\ntransaction in which a consumer litigation funder purchases, and a\n\nconsumer assigns to the funder, a contingent right to receive an\n\namount of the potential proceeds of a settlement, judgment, award,\n\nor verdict obtained in the consumer's legal claim; and\n\n12. \"Resolution date\" means the date on which the sum of the\n\namount funded to the consumer and the agreed to charges is delivered\n\nto the consumer litigation funder.","path":["OK Code","Title 14A"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os14A.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"dff365c36c614db90b8bdb3c178ce036dfe3a30a0c6602db6218408b2d5f0964","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-14a-14a-3-705","next":"us-ok/okla.-stat.-tit.-14a-14a-3-802"},"notice":"GroundRules: Original legal text. Not legal advice."}