An Act to provide transparency in third party litigation financing
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill aims to increase transparency surrounding third-party litigation financing, where outside investors pay the legal costs of lawsuits. Currently, there’s limited public information about these arrangements, which can raise concerns about potential influence on legal proceedings. The bill would require disclosure of certain details related to these financing deals, promoting accountability and public awareness. It seeks to ensure that the public and courts have access to information about who is funding lawsuits.
Key provisions
- Requires disclosure of the terms of third-party litigation financing agreements.
- Mandates reporting of the identity of the third-party financier.
- Establishes guidelines for transparency in these agreements.
- Focuses on ensuring fairness and preventing undue influence in litigation.
- Addresses potential conflicts of interest arising from litigation financing.
Who is affected
- Lawsuits and legal proceedings
- Litigants
- Third-party litigation funders
- Courts
- The public
Notable changes
- Currently, details of third-party litigation financing are often not publicly available.
- This bill would create a framework for increased disclosure requirements.
Bill text
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Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
Cosponsor
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