This bill proposes to amend the Arizona Revised Statutes by adding a new chapter that specifically addresses litigation financing agreements. It introduces definitions for key terms such as "funded action," "litigation blind pool," "litigation financier," and "litigation financing agreement." The bill establishes that litigation financiers must maintain litigation blind pools and prohibits them from disclosing identifying information about funded actions or proprietary information of investors and parties involved in litigation. Additionally, it grants the attorney general the authority to enforce compliance with the new regulations, including the ability to investigate and seek injunctions against unlawful practices.

The bill also outlines the enforcement mechanisms available to the attorney general, including the ability to require written statements from individuals involved in litigation financing, examine relevant records, and impound materials related to violations. It specifies that the act applies to all litigation financing within Arizona, regardless of whether the financing is pending or commenced after the act's effective date, while exempting those who conduct business solely outside the state. Overall, the bill aims to regulate and provide oversight for litigation financing practices in Arizona.