Iowa SF2419 regulates third-party litigation funding, requiring disclosures, registration, and prohibiting certain practices.

Iowa SF2419, known as the Third-Party Litigation Funding Transparency Act, establishes regulations for third-party litigation funding. It mandates that consumer litigation funding contracts must be written clearly, contain specific disclosures, and include a right of rescission. The bill requires consumer litigation funding companies and commercial litigation financiers to register with the secretary of state, with specific application procedures and fees. It prohibits these companies from paying commissions, influencing legal decisions, or engaging with certain foreign entities.

Iowa SF2419 regulates third-party litigation funding, requiring disclosures, registration, and prohibiting certain practices.

Iowa SF2419, known as the Third-Party Litigation Funding Transparency Act, establishes regulations for third-party litigation funding. It mandates that consumer litigation funding contracts must be written clearly, contain specific disclosures, and include a right of rescission. The bill requires consumer litigation funding companies and commercial litigation financiers to register with the secretary of state, with specific application procedures and fees. It prohibits these companies from paying commissions, influencing legal decisions, or engaging with certain foreign entities.