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90_SB0383
New Act `
Creates the Attorney-client Contingent Fee Information
Act. Provides that at the conclusion of each contingent fee
representation the attorney shall provide the client with
certain fee information. Requires attorneys to keep certain
records. Effective September 1, 1997.
LRB9003081DJcw
LRB9003081DJcw
1 AN ACT concerning attorneys' contingent fees.
2 Be it enacted by the People of the State of Illinois,
3 represented in the General Assembly:
4 Section 1. Short title. This Act may be cited as the
5 Attorney-client Contingent Fee Information Act.
6 Section 5. Attorney records required. Whenever any
7 attorney enters into an agreement with a client for
8 representation for which fees are contingent on the outcome
9 of the matter, the attorney shall keep a record of the
10 following:
11 (1) The amount of hours spent on the
12 representation, including but not limited to research,
13 preparation, settlement, and litigation.
14 (2) Any expenses paid by the attorney on behalf of
15 the client.
16 Section 10. Contingent fee information for client. At
17 the conclusion of each contingent fee representation, the
18 attorney shall provide the client with fee information, which
19 shall be in substantially the following form:
20 "Pursuant to the Illinois Attorney-client Contingent Fee
21 Information Act, the undersigned attorney is providing the
22 following fee information regarding your case,....(insert
23 case name or number)...........
24 Total hours spent on case:......................
25 Expenses incurred on your behalf:................
26 Total amount recovered by settlement, judgment, or award:
27 ................
28 Contingent fee withheld by attorney:.........
29 Average fee per hour:...................
30 (Attorney's contingent fee, minus expenses, divided by
-2- LRB9003081DJcw
1 total hours spent on case)
2 Date:.............. .........................
3 Attorney at Law."
4 Section 15. No limitation on contingent fee agreements.
5 This Act is intended only to provide information to clients
6 and is not to be construed as limiting in any way the ability
7 of attorneys to enter into valid contingent fee agreements as
8 provided by law or court rule.
9 Section 99. Effective date. This Act takes effect
10 September 1, 1997.