(a) The contingent right to receive an amount of the potential proceeds of a legal claim may be assigned by a consumer, and that assignment is valid for the purposes of obtaining litigation financing from a litigation financier.
(b) The lien of a litigation financier on a consumers legal claim has priority over liens that attach and take effect subsequent to the attachment of the litigation financiers lien to the consumers legal claim, except for the following:
(1) Attorney liens, insurance carrier liens, medical provider liens, or liens based upon subrogation interests or rights of reimbursement related to the consumers legal claim; and
(2) Child support, Medicare, tax, or any other statutory or governmental lien.
Structure West Virginia Code
Chapter 46A. West Virginia Consumer Credit and Protection Act
Article 6N. Consumer Litigation Financing
§46A-6N-2. Litigation Financier; Registration; Bond; Public Record; Rules
§46A-6N-3. Litigation Financier Requirements
§46A-6N-4. Litigation Financier Prohibitions
§46A-6N-5. Litigation Financing Contracts; Disclosures
§46A-6N-6. Third-Party Agreements
§46A-6N-7. Violation; Enforcement
§46A-6N-9. Fees; Terms; Incorporation of Obligations in Agreement