|Assembly Actions - Lowercase
Senate Actions - UPPERCASE
|Mar 12, 2019||recommit, enacting clause stricken|
|Jan 09, 2019||referred to consumer protection|
senate Bill S675
Archive: Last Bill Status - Stricken
- In Committee
- On Floor Calendar
- Passed Senate
- Passed Assembly
- Delivered to Governor
- Signed/Vetoed by Governor
S675 (ACTIVE) - Details
S675 (ACTIVE) - Summary
Enacts the consumer litigation funding act to promote consumer protections related to consumer litigation funding transactions; provides for contract requirements, including that the contract contain a no penalty provision for the pre-payment of the funded amount prior to the settlement of his or her case; makes related provisions.
S675 (ACTIVE) - Sponsor Memo
BILL NUMBER: S675 SPONSOR: ORTT TITLE OF BILL: An act to amend the general business law, in relation to consumer liti- gation funding PURPOSE OR GENERAL IDEA OF BILL: The bill establishes provisions to regulate the Consumer Litigation Funding Industry in New York State. This bill may be cited as the "Consumer Litigation Funding Act". SUMMARY OF PROVISIONS: Section 1 relates the short title of the bill. Section 2 clarifies the legislative intent. Section 3 amends the general business law by adding a new article, 39-H,
S675 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 675 2019-2020 Regular Sessions I N S E N A T E (PREFILED) January 9, 2019 ___________ Introduced by Sen. ORTT -- read twice and ordered printed, and when printed to be committed to the Committee on Consumer Protection AN ACT to amend the general business law, in relation to consumer liti- gation funding THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Short title. This act shall be known and may be cited as the "consumer litigation funding act". § 2. Legislative intent. In an effort to promote consumer protections related to consumer litigation funding transactions, this act estab- lishes that such transactions should be subject to state regulation and sets forth requirements regarding disclosure, licensing, funding company and attorney responsibilities and limitations, violations and other items. § 3. The general business law is amended by adding a new article 39-H to read as follows: ARTICLE 39-H THIRD PARTY LITIGATION FINANCING SECTION 899-CCC. DEFINITIONS. 899-DDD. CONTRACT REQUIREMENTS; RIGHT OF RESCISSION. 899-EEE. PROHIBITIONS AND CHARGE LIMITATIONS. 899-FFF. CONTRACTED AMOUNTS. 899-GGG. DISCLOSURES. 899-HHH. VIOLATIONS. 899-III. ASSIGNABILITY; LIENS. 899-JJJ. EFFECT OF COMMUNICATION ON PRIVILEGES. 899-KKK. REGISTRATION. 899-LLL. REPORTING. 899-MMM. SEVERABILITY. EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted.
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.