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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: 3/14/2020 House - Died on Calendar
Bill Text: PDF

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  • 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 -HJ 694
    2/28/2020 House • Pending review of CS -under Rule 7.18(c)
    3/2/2020 House • Placed on Calendar -HJ 693
    • CS by Commerce Committee read 1st time -HJ 692
    3/14/2020 House • Indefinitely postponed and withdrawn from consideration
    • Died on Calendar

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  • CS/HB 7041, Committee Substitute 1 (Current Bill Version) Posted 2/28/2020 at 5:50 PM

    Bill Text:   PDF
    Analyses:   None

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    S 1828 Litigation Financing Consumer Protection Broxson Similar Last Action: 3/14/2020 S Died in Banking and Insurance

    Citations - Statutes (10)

    Citation Catchline Location in Bill Location In Bill Help
    559.952 Page 2 (pdf)
    559.953 Page 4 (pdf)
    559.954 Page 7 (pdf)
    559.955 Page 8 (pdf)
    559.956 Page 10 (pdf)
    559.957 Page 12 (pdf)
    559.958 Page 13 (pdf)
    559.959 Page 14 (pdf)
    559.961 Page 14 (pdf)
    559.962 Page 15 (pdf)

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  • HB 7041, Original Filed Version Posted 1/24/2020 at 8:37 AM

    Bill Text:   PDF
    Analyses:   Appropriations Committee (Post-Meeting) 2/5/2020 (pdf)
    Commerce Committee (Post-Meeting) 2/28/2020 (pdf)

    Related Bills (1)

    Bill Number Subject Filed By Relationship Last Action and Location Track Bills
    S 1828 Litigation Financing Consumer Protection Broxson Similar Last Action: 3/14/2020 S Died in Banking and Insurance

    Committee Amendments (2)

    Amendment Sponsor Filed Last Committee Action Format
    002305 - Amendment
    Remove lines 41-45 and insert:
    Leek 2/26/2020
    4:05 PM
    Adopted without Objection
    2/27/2020
    PDF
    689897 - Amendment
    Remove lines 66-67 and insert:
    Leek 2/26/2020
    4:06 PM
    Adopted without Objection
    2/27/2020
    PDF

    Citations - Statutes (10)

    Citation Catchline Location in Bill Location In Bill Help
    501.1001 Page 2 (pdf)
    501.1002 Page 4 (pdf)
    501.1003 Page 7 (pdf)
    501.1004 Page 8 (pdf)
    501.1005 Page 9 (pdf)
    501.1006 Page 12 (pdf)
    501.1007 Page 13 (pdf)
    501.1008 Page 14 (pdf)
    501.1009 Page 14 (pdf)
    501.1011 Page 14 (pdf)

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