Rhode Island H7080 regulates third-party litigation financing to protect consumers.

Rhode Island H7080, known as the Third-Party Litigation Financing Consumer Protection Act, establishes regulations for third-party litigation financing in the state. The bill mandates that any litigation financer must register with the Department of Business Regulation and post a bond. It prohibits financers from paying commissions or referral fees to legal representatives or medical providers. The bill also requires specific disclosures in litigation financing contracts, ensuring consumers understand their rights and the financer's limitations.

Rhode Island H7080 regulates third-party litigation financing to protect consumers.

Rhode Island H7080, known as the Third-Party Litigation Financing Consumer Protection Act, establishes regulations for third-party litigation financing in the state. The bill mandates that any litigation financer must register with the Department of Business Regulation and post a bond. It prohibits financers from paying commissions or referral fees to legal representatives or medical providers. The bill also requires specific disclosures in litigation financing contracts, ensuring consumers understand their rights and the financer's limitations.