Massachusetts H1861 establishes transparency and regulation for third-party litigation financing.
Massachusetts H1861 introduces regulations for third-party litigation financing, ensuring transparency and consumer protection. The bill mandates that consumer litigation funding companies must register with the Division of Banks and adhere to specific rules. It prohibits companies from paying commissions, referral fees, or other forms of consideration to attorneys, law firms, or healthcare providers. The bill also requires clear disclosures in consumer litigation funding contracts, including the funded amount, charges, and a right of rescission.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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