AN ACT TO ENACT THE MISSISSIPPI TRANSPARENCY IN CONSUMER LEGAL FUNDING ACT; TO PROVIDE THAT THE PURPOSE OF THE ACT IS TO PROMOTE CONSUMER PROTECTIONS RELATED TO CONSUMER LEGAL FUNDING TRANSACTIONS; TO DEFINE TERMS; TO PROVIDE REQUIREMENTS FOR LEGAL FUNDING CONTRACTS, INCLUDING SPECIFIC DISCLOSURES; TO REQUIRE ALL CONSUMER LEGAL FUNDING CONTRACTS TO CONTAIN A WRITTEN ACKNOWLEDGEMENT BY THE ATTORNEY RETAINED IN THE LEGAL CLAIM THAT ATTESTS TO CERTAIN STATEMENTS; TO PROVIDE FOR FAILURE TO MAKE REQUIRED ACKNOWLEDGEMENTS; TO PROHIBIT PREPAYMENT PENALTIES OR FEES; TO PROHIBIT CONSUMER LEGAL FUNDING COMPANIES FROM CERTAIN ACTIONS; TO PROHIBIT ATTORNEYS AND THEIR IMMEDIATE FAMILY MEMBERS FROM HAVING A FINANCIAL INTEREST IN A CONSUMER LEGAL FUNDING COMPANY OFFERING CONSUMER LEGAL FUNDING TO CONSUMERS WHO HAVE RETAINED THEM; TO PROVIDE FOR DISCLOSURE OF INFORMATION; TO PROVIDE FOR EXECUTION OF CONSUMER LEGAL FUNDING AGREEMENTS; TO PROVIDE FOR CONTRACTED AMOUNTS; TO PROVIDE PENALTIES FOR VIOLATIONS; TO PROVIDE FOR ASSIGNABILITY AND LIENS; TO PROHIBIT CERTAIN COMMUNICATIONS FROM BEING DISCOVERABLE; TO REQUIRE CONSUMER LEGAL FUNDING COMPANIES TO REGISTER WITH THE SECRETARY OF STATE; TO PROVIDE REGISTRATION PROCESSES; TO PROVIDE FOR SEVERABILITY OF THIS ACT; AND FOR RELATED PURPOSES.