Senate Bill 148 (2010)
It is an act relating to nonrecourse civil litigation funding providers.
Senate Bill 148 proposes to create new sections of KRS Chapter 367, relating to consumer protection, to regulate the business of nonrecourse civil litigation funding where funds are provided to a civil litigant and repaid only out of the proceeds of the lawsuit; include provisions that address required contractual disclosures and terms, prohibited activities by funding companies, registration of funding companies with the Attorney General, and enforcement authority within the Attorney General's office.
- Feb 8 - Introduced in Senate.
- Feb 10 - To Judiciary (S).
- Feb 11 - Reported favorably, 1st reading, to Calendar with Committee Substitute, committee amendment (1-title).
- Feb 12 - 2nd reading, to Rules.
Senate Committee Substitute
- Proposes to retain original provisions with additions to prohibit provider transaction with litigants not represented by an attorney, to allow the Attorney General to expend registration funds to support the AG's required activities under the bill, and to expand the list of activities prohibited to a funding provider.
- Full Version of SCS