§ 2252. License required; financial stability
(a) A person shall not engage in the business of consumer litigation funding without first obtaining a license under this chapter.
(b) In addition to the information required by section 2102 of this title, an applicant for a consumer litigation funding license shall provide, and a licensee shall at all times maintain, a surety bond or irrevocable letter of credit issued and confirmed by a financial institution authorized by law to transact business in Vermont that is equal to double the amount of the company’s largest funded amount in Vermont in the prior three calendar years or $50,000.00, whichever is greater. (Added 2015, No. 128 (Adj. Sess.), § A.1; amended 2017, No. 22, § 1, eff. May 4, 2017; 2019, No. 20, § 34; 2025, No. 142 (Adj. Sess.), § 7, eff. July 1, 2026.)