New York A09442 amends the litigation funding act to enhance consumer protections in litigation funding contracts.

New York A09442 amends the litigation funding act to promote consumer protections related to litigation funding contracts. The bill provides for contract requirements, including clear disclosures and a right of rescission. It prohibits litigation funding companies from engaging in certain practices, such as requiring consumers to pay more than 25% of the gross proceeds from their legal claim. The bill also mandates litigation funding company registration and reporting requirements.

New York A09442 amends the litigation funding act to enhance consumer protections in litigation funding contracts.

New York A09442 amends the litigation funding act to promote consumer protections related to litigation funding contracts. The bill provides for contract requirements, including clear disclosures and a right of rescission. It prohibits litigation funding companies from engaging in certain practices, such as requiring consumers to pay more than 25% of the gross proceeds from their legal claim. The bill also mandates litigation funding company registration and reporting requirements.