HB105

Ohio HB105 revises regulations on non-recourse litigation funding agreements.

Ohio HB105 revises and supplements state regulations concerning non-recourse litigation funding agreements. The bill defines key terms such as "consumer litigation funding agreement" and "commercial litigation financing agreement." It mandates that consumer litigation funding companies must not pay commissions, referral fees, or other forms of consideration to attorneys or other professionals for referrals. The bill also requires consumer litigation funding companies to provide clear and complete disclosures to consumers before entering into agreements.