Litigation Funding Company

The State of Vermont participates in the Nationwide Multistate Licensing System (NMLS).  All applications for a lender license must be submitted through NMLS.

Frequently Asked Questions

Who is required to have this registration?
Who does not need this license?
What are the fees?
What are the prerequisites for license application?

Reports

Under Development

Vermont Related/Referenced Statutes and Regulations

Title 8, V.S.A. Chapter 74, Consumer Litigation Funding Companies


Who is required to have this registration?

Any company who engages in the business of entering into a nonrecourse transaction in which the company purchases and a consumer assigns to the company a contingent right to receive an amount of the potential net proceeds of a settlement or judgment obtained from the consumer’s legal claim. If no proceeds or net proceeds are obtained, the consumer is not required to repay the company the funded amount or charges.

Who does not need this license?

No exceptions are identified in statute.

What are the fees?

Application:

$600.00 (valid for three years)

Renewal:

  • $100.00 Annual NMLS processing fee
  • $600.00 Renewal Fee assessed every three years on the  anniversary date of the registration
What are the prerequisites for license application?
  • Bond amount: $ 50,000.00, minimum amount  or such sum as the commissioner may require.
  • Registered Agent recorded with the Vermont Secretary of State.

Contact Information

Department of Financial Regulation
Commissioner Michael Pieciak
89 Main Street, Montpelier, VT 05620 - 3101
802-828-3301

Public Information
For public records, media inquiries, and press releases visit our Public Information web page

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Employee Information