Maryland SB894 regulates third-party litigation financing by requiring licensing and disclosure of contracts.

Maryland SB894 establishes licensing and regulation for third-party litigation financing, requiring financiers to be licensed. It mandates disclosure of any litigation financing contracts to all parties and insurers involved in a civil action. The bill defines key terms such as "litigation financing contract," "consumer," and "litigation financier." It also specifies that certain information about these contracts is permissible for discovery in civil actions. The provisions apply prospectively and do not affect contracts entered into before the effective date.

Maryland SB894 regulates third-party litigation financing by requiring licensing and disclosure of contracts.

Maryland SB894 establishes licensing and regulation for third-party litigation financing, requiring financiers to be licensed. It mandates disclosure of any litigation financing contracts to all parties and insurers involved in a civil action. The bill defines key terms such as "litigation financing contract," "consumer," and "litigation financier." It also specifies that certain information about these contracts is permissible for discovery in civil actions. The provisions apply prospectively and do not affect contracts entered into before the effective date.