Rhode Island S2494 regulates third-party litigation financing practices, overseen by the Department of Business Regulation.

Rhode Island S2494 establishes the Third-Party Litigation Financing Consumer Protection Act, which regulates the practices of third-party litigation financers in the state. The Department of Business Regulation is tasked with overseeing these practices. The act mandates that any litigation financer must be registered with the state and file annual reports detailing their transactions and ownership. It prohibits financers from engaging in certain activities, such as paying commissions to legal representatives or making misleading advertisements.

Rhode Island S2494 regulates third-party litigation financing practices, overseen by the Department of Business Regulation.

Rhode Island S2494 establishes the Third-Party Litigation Financing Consumer Protection Act, which regulates the practices of third-party litigation financers in the state. The Department of Business Regulation is tasked with overseeing these practices. The act mandates that any litigation financer must be registered with the state and file annual reports detailing their transactions and ownership. It prohibits financers from engaging in certain activities, such as paying commissions to legal representatives or making misleading advertisements.