2023 Indiana Code › Title 24. Trade Regulation › Article 12. Civil Proceeding Advance Payments › Chapter 1. Definitions › 24-12-1-1. Definitions

Sec. 1. The following definitions apply throughout this article:
(1) "Advertise" means publishing or disseminating any written, electronic, or printed communication, or any communication by means of recorded telephone messages or transmitted on radio, television, the Internet, or similar communications media, including film strips, motion pictures, and videos, published, disseminated, circulated, or placed before the public, directly or indirectly, for the purpose of inducing a consumer to enter into a CPAP transaction.
(2) "Charges" means the amount of money to be paid to a CPAP provider by or on behalf of a consumer claimant above the funded amount provided by or on behalf of the CPAP provider to a consumer claimant. The term includes all administrative, origination, underwriting, and other fees no matter how denominated.
(3) "Civil proceeding", with respect to a CPAP transaction, means:
(A) a civil action;
(B) a mediation, an arbitration, or any other alternative dispute resolution proceeding; or
(C) an administrative proceeding before:
(i) an agency or instrumentality of the state; or
(ii) a political subdivision, or an agency or instrumentality of a political subdivision, of the state;
that is filed in, or is under the jurisdiction of, a court with jurisdiction in Indiana, a tribunal in Indiana, or an agency or instrumentality described in clause (C) in Indiana. The term includes all proceedings arising out of or relating to the proceeding, including any proceedings on appeal or remand, and any enforcement, ancillary, or parallel proceedings.
(4) "Civil proceeding advance payment contract", or "CPAP contract", means a contract for a CPAP transaction that a CPAP provider enters into, or offers to enter into, with a consumer claimant.
(5) "Civil proceeding advance payment provider", or "CPAP provider", means a person that enters into, or offers to enter into, a CPAP transaction with a consumer claimant in connection with a civil proceeding.
(6) "Civil proceeding advance payment transaction", or "CPAP transaction", has the meaning set forth in section 0.5 of this chapter.
(7) "Consumer claimant", with respect to a CPAP transaction, means an individual:
(A) who is or may become a plaintiff, a claimant, or a demandant in a civil proceeding; and
(B) who:
(i) is offered a CPAP transaction by a CPAP provider; or
(ii) enters into a CPAP transaction with a CPAP provider.
(8) "Department" refers to the department of financial institutions established by IC 28-11-1-1.
(9) "Director" means the director of the department of financial institutions or the director's designee.
(10) "Funded amount", with respect to a CPAP transaction, means the amount of money:
(A) that is provided to the consumer claimant by the CPAP provider;
(B) the repayment of which is:
(i) required only if the consumer claimant prevails in the consumer claimant's civil proceeding; and
(ii) sourced from the proceeds of the civil proceeding, whether the proceeds result from a judgment, a settlement, or some other resolution; and
(C) that under IC 24-12-4-1(1)(A) must be:
(i) set forth; and
(ii) designated by the term "funded amount";
by the CPAP provider in the CPAP contract.
(11) "Funding date" means the date on which the funded amount is transferred to the consumer claimant by the CPAP provider, by:
(A) personal delivery, wire, Automated Clearing House (ACH), or other electronic means; or
(B) insured, certified, or registered United States mail.
(12) "Nationwide Multistate Licensing System and Registry" (or "Nationwide Mortgage Licensing System and Registry" or "NMLSR") means a multistate licensing system owned and operated by the State Regulatory Registry, LLC, or by any successor or affiliated entity, for the licensing and registration of creditors, mortgage loan originators, and other persons in the mortgage or financial services industries. The term includes any other name or acronym that may be assigned to the system by the State Regulatory Registry, LLC, or by any successor or affiliated entity.
(13) "Regularly engaged", with respect to a CPAP provider, refers to a CPAP provider that:
(A) entered into CPAP transactions with consumer claimants more than fifteen (15) times in the preceding calendar year; or
(B) enters into or will enter into CPAP transactions with consumer claimants more than fifteen (15) times in the current calendar year, if the CPAP provider did not meet the numerical standard described in clause (A) in the preceding calendar year.
(14) "Resolution date" means the date the funded amount, plus the agreed upon charges, is delivered to the CPAP provider.
(15) "Unique identifier" means a number or other identifier assigned by protocols established by the NMLSR.
As added by P.L.153-2016, SEC.7. Amended by P.L.85-2017, SEC.96; P.L.176-2019, SEC.37.