Nevada Consumer Litigation Funding Provider Bond Guide
If you’re applying for a consumer litigation funding license in Nevada, you’ll likely need this surety bond.
Bond Overview
- Purpose: To ensure legal and ethical consumer litigation funding activities
- Who Needs It: Investors funding legal cases in Nevada
- Regulating Body: The Nevada Financial Institutions Division
- Required Coverage: $1,000–$50,000
- Premium Rate: 1–10% based on credit score
Learn all about the bond requirements and process in this guide.
What Is a Nevada Consumer Litigation Funding Provider Bond?
A Nevada consumer litigation funding provider bond financially enforces legal and ethical consumer litigation funding practices.
The Nevada Financial Institutions Division requires this bond as part of the licensing process for legal funding providers in the state.
How Much Do Consumer Litigation Funding Provider Bonds Cost in Nevada?
Nevada consumer litigation funding provider bonds cost a small percentage of the bond amount, typically 1–10%.
Exact rates vary based on personal credit score. Apply for your free quote now!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
Who Needs a Consumer Litigation Funding Provider Bond?
The Nevada Financial Institutions Division requires this bond for any non-related person entering into a litigation funding transaction with a consumer.
Alternatively, you can file a $50,000 letter of credit. However, a surety bond is typically the most affordable and efficient financial security option.
How Do I Get My Bond?
SuretyBonds.com provides the fastest and easiest way to get a Nevada consumer litigation funding provider bond. Just follow these quick steps:
- Apply: Submit an online quote request form
- Quote: Receive your quote within one day
- Sign: Complete the indemnity agreement
- Buy: Purchase the bond online 24/7
We’ll upload the bond directly to the NMLS on your behalf and send you email confirmation.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a Nevada Legal Funding Provider Bond Work?
As with all surety bonds, a consumer litigation funding provider bond creates a legal contract between three parties:
- Principal: You, the legal funding provider filing the bond
- Obligee: The Nevada Financial Institutions Division requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding the provisions of Nevada Revised Statutes Chapter 604C.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you are ultimately responsible for refunding the surety.
How Do I Renew My Bond?
These bonds expire annually. To renew your consumer litigation funding provider bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.
After renewing, you’ll receive a continuation certificate to file with the Nevada Financial Institutions Division as proof of ongoing coverage.
