This bill amends several sections of the Reissue Revised Statutes of Nebraska to modify the statute of limitations for personal injury actions, establishing that such actions must be initiated within two years from the date of accrual. It also clarifies that this new limitation applies only to causes of action that arise on or after the bill's effective date. Additionally, the bill expands the scope of the Nonrecourse Civil Litigation Act to include administrative proceedings and introduces new definitions and requirements related to civil litigation funding, including the obligation for consumers and their attorneys to disclose contracts for nonrecourse civil litigation funding to relevant parties and entities.

Furthermore, the bill outlines the responsibilities of the Secretary of State regarding the registration of civil litigation funding companies, including the authority to deny or revoke registration based on the company's character and conduct. It mandates that registered companies submit annual data on their funding activities and requires the Secretary of State to report on these activities to the Legislature. The bill also includes provisions for the Revisor of Statutes to assign the new legal language to the appropriate chapter and repeals the original sections that are being amended.

Statutes affected:
Introduced: 25-3301, 25-3302, 25-3309