Establishes the Third-Party Litigation Funding Transparency Act, regulating consumer litigation funding.

The bill creates the Third-Party Litigation Funding Transparency Act, which regulates consumer litigation funding. It mandates that consumer litigation funding companies and commercial litigation financiers register with the secretary of state. The bill outlines specific requirements for consumer litigation funding contracts, including clear language, initials on each page, and a statement of no additional fees. It prohibits certain actions by consumer litigation funding companies, such as paying commissions or offering referral fees.

Establishes the Third-Party Litigation Funding Transparency Act, regulating consumer litigation funding.

The bill creates the Third-Party Litigation Funding Transparency Act, which regulates consumer litigation funding. It mandates that consumer litigation funding companies and commercial litigation financiers register with the secretary of state. The bill outlines specific requirements for consumer litigation funding contracts, including clear language, initials on each page, and a statement of no additional fees. It prohibits certain actions by consumer litigation funding companies, such as paying commissions or offering referral fees.