Relating to licensing requirements for persons that provide litigation funding; prescribing an effective date.
Catchline/Summary:
Requires person that provides litigation funding as sponsor to obtain license from Director of Department of Consumer and Business Services. Requires person that provides litigation funding as sponsor to obtain license from Director of Department of Consumer and Business Services. Specifies application contents and procedures and basis on which director may approve or deny license or revoke or suspend license that director has issued. Specifies conditions and requirements of license.
Specifies duties of licensee and prohibitions that apply to licensee. Provides that director may examine or investigate licensee and enforce violations of provisions of Act by issuing cease and desist order, imposing civil penalty in amount that does not exceed $2,500, revoking license and other means.
Takes effect on 91st day following adjournment sine die.
Chapter Number:
Fiscal Impact:
May Have Fiscal Impact, But No Statement Yet Issued
Revenue Impact:
May Have Revenue Impact, But No Statement Yet Issued
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