The bill amends the Litigation Financing Transparency and Consumer Protection Act by introducing the Foreign Investment in Litigation Financing Act, which establishes new definitions and regulations regarding litigation financing. It specifically prohibits funding from certain foreign entities, including foreign adversaries and foreign persons of concern. Key amendments clarify terms such as "consumer," "legal claim," and "litigation financer," while also introducing requirements for transparency and registration of foreign persons involved in litigation financing. The bill outlines the obligations of litigation financers, including restrictions on their influence over legal claims and mandates for the disclosure of litigation financing contracts.

Additionally, the legislation emphasizes consumer protection by prohibiting deceptive practices, excessive interest rates, and foreign influence on legal decisions. It mandates that proprietary information related to legal claims cannot be shared with foreign entities. The bill requires foreign persons engaged in litigation financing to register and disclose specific information to the secretary of state, including their identity and contracts related to litigation financing. The provisions are intended to be codified into Title 31, chapter 4, and will apply to contracts entered into after the act's effective date, with a severability clause ensuring the enforceability of remaining provisions if any part is deemed invalid.

Statutes affected:
LC Text: 31-4-102, 31-4-104, 31-4-108, 31-4-118, 31-4-120
SB0511_1(1): 31-4-102, 31-4-104, 31-4-108, 31-4-118, 31-4-120
SB0511_1(2): 31-4-102, 31-4-104, 31-4-108, 31-4-118, 31-4-120
SB0511_1(3): 31-4-102, 31-4-104, 31-4-108, 31-4-118, 31-4-120
SB0511_1(4): 31-4-102, 31-4-104, 31-4-108, 31-4-118, 31-4-120
SB0511_1(5): 31-4-102, 31-4-104, 31-4-108, 31-4-118, 31-4-120
SB0511_1: 31-4-102, 31-4-104, 31-4-108, 31-4-118, 31-4-120
SB0511_X(1): 31-4-102, 31-4-104, 31-4-108, 31-4-118, 31-4-120
SB0511_X(10): 31-4-102, 31-4-104, 31-4-108, 31-4-118, 31-4-120
SB0511_X(11): 31-4-102, 31-4-104, 31-4-108, 31-4-118, 31-4-120
SB0511_X(12): 31-4-102, 31-4-104, 31-4-108, 31-4-118, 31-4-120
SB0511_X(13): 31-4-102, 31-4-104, 31-4-108, 31-4-118, 31-4-120
SB0511_X(2): 31-4-102, 31-4-104, 31-4-108, 31-4-118, 31-4-120
SB0511_X(3): 31-4-102, 31-4-104, 31-4-108, 31-4-118, 31-4-120
SB0511_X(4): 31-4-102, 31-4-104, 31-4-108, 31-4-118, 31-4-120
SB0511_X(5): 31-4-102, 31-4-104, 31-4-108, 31-4-118, 31-4-120
SB0511_X(6): 31-4-102, 31-4-104, 31-4-108, 31-4-118, 31-4-120
SB0511_X(7): 31-4-102, 31-4-104, 31-4-108, 31-4-118, 31-4-120
SB0511_X(8): 31-4-102, 31-4-104, 31-4-108, 31-4-118, 31-4-120
SB0511_X(9): 31-4-102, 31-4-104, 31-4-108, 31-4-118, 31-4-120
SB0511_X: 31-4-102, 31-4-104, 31-4-108, 31-4-118, 31-4-120