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CS/HB 7041: Litigation Financing Consumer Protection

GENERAL BILL by Commerce Committee ; Civil Justice Subcommittee ; Leek ; (CO-INTRODUCERS) Sabatini

Litigation Financing Consumer Protection; Requires litigation financiers to register with DOS & file surety bond; provides requirements & rulemaking authority for DOS; provides requirements for litigation financing contracts; provides for assignment of contingent rights to civil action or claim proceeds; specifies priority of liens; authorizes litigation financiers to assess specified interest, fees, & charges; provides that violations are deceptive & unfair trade practices.

Effective Date: 7/1/2020
Last Action: 2/27/2020 House - CS by- Commerce Committee; YEAS 20 NAYS 3
Bill Text: PDF



Bill History

Date Chamber Action
1/24/2020 House • Filed
• Introduced -HJ 437
1/27/2020 House • Referred to Appropriations Committee; Commerce Committee -HJ 444
2/3/2020 House • On Committee agenda-- Appropriations Committee, 02/05/20, 10:00 am, Webster Hall
2/5/2020 House • Favorable by Appropriations Committee; YEAS 20 NAYS 2 -HJ 517
• Now in Commerce Committee -HJ 517
2/25/2020 House • On Committee agenda-- Commerce Committee, 02/27/20, 8:00 am, Webster Hall
2/27/2020 House • CS by- Commerce Committee; YEAS 20 NAYS 3