Washington HB2255 regulates third-party litigation funders in legal actions within the state.

Washington HB2255 establishes rules for third-party litigation funders in legal actions within the state. It defines key terms such as "attorney," "claimant," and "litigation financing agreement." The bill mandates that attorneys disclose the existence of such agreements to claimants, including the identity of the funder and any rights the funder may have. Third-party funders are prohibited from influencing legal decisions, providing legal advice, or assigning rights to profits. The bill also outlines penalties for violations and specifies that it applies prospectively, not retroactively.

Washington HB2255 regulates third-party litigation funders in legal actions within the state.

Washington HB2255 establishes rules for third-party litigation funders in legal actions within the state. It defines key terms such as "attorney," "claimant," and "litigation financing agreement." The bill mandates that attorneys disclose the existence of such agreements to claimants, including the identity of the funder and any rights the funder may have. Third-party funders are prohibited from influencing legal decisions, providing legal advice, or assigning rights to profits. The bill also outlines penalties for violations and specifies that it applies prospectively, not retroactively.