Attorneys\u27 Contingent Fees. Limits.

ATTORNEYS\u27 CONTINGENT FEES. LIMITS. INITIATIVE STATUTE. Limits fees which plaintiffs\u27 attorneys may collect, if payable contingent on plaintiffs\u27 recovery of compensation, in personal injury, wrongful death, other tort cases. Hourly rates not limited. Requires demand against defendants for compensation with supporting information. Allows defendants to respond with early settlement offer with supporting information. If accepted, plaintiffs\u27 attorneys may not collect contingent fees exceeding 15% of defendants\u27 offer. If not accepted, they may collect fees above 15% only on part of recovery in excess of defendants\u27 early settlement offer. Fiduciary relationship applies to fee agreement between plaintiff, plaintiff\u27s attorney. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: The fiscal impact of this measure on state and local governments is unknown. It could result in either net savings or costs, depending largely on how attorneys and their clients respond to contingency limits