The bill amends Oklahoma's discovery laws, specifically 12 O.S. 2021, Sections 3226 and 3226.1, to improve the transparency and regulation of commercial litigation funding agreements. It requires parties to produce these agreements upon request, while ensuring that any related information is not admissible as evidence in court. Additionally, the bill mandates a sworn certification regarding the source of funds, particularly if they come from foreign states or agencies, although consumer litigation funding agreements are exempt from this requirement. The bill also addresses abusive discovery practices by allowing protective orders to prevent depositions of high-ranking officers unless specific proof is provided, granting courts the authority to issue, modify, or vacate these orders as needed.

Moreover, the bill introduces new provisions for handling confidential documents in court, focusing on protective orders and the responsibilities of litigating parties. It establishes that protective orders do not necessitate amendments to the microfilm record of filed documents and requires parties to present these orders to court clerks promptly. The bill also mandates the use of pseudonyms when filing cases that seek to remove material from the public record to maintain confidentiality. Additionally, it revises existing discovery procedures, including the sequence and timing of discovery, and introduces a new definition for "commercial litigation funder." The court is empowered to impose sanctions for violations of discovery rules and to award expenses related to motions for protective orders, with the bill set to take effect on November 1, 2025.