Senate Bill S4555

2019-2020 Legislative Session

Relates to consumer litigation funding

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Senate Committee Consumer Protection Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

Do you support this bill?

Please enter your contact information

Home address is used to determine the senate district in which you reside. Your support or opposition to this bill is then shared immediately with the senator who represents you.

Optional services from the NY State Senate:

Create an account. An account allows you to officially support or oppose key legislation, sign petitions with a single click, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.

Include a custom message for your Senator? (Optional)

Enter a message to your senator. Many New Yorkers use this to share the reasoning behind their support or opposition to the bill. Others might share a personal anecdote about how the bill would affect them or people they care about.
Actions
Votes

co-Sponsors

2019-S4555 (ACTIVE) - Details

See Assembly Version of this Bill:
A6764
Current Committee:
Senate Consumer Protection
Law Section:
General Business Law
Laws Affected:
Add Art 39-H §§899-ccc - 899-mmm, Gen Bus L
Versions Introduced in Other Legislative Sessions:
2017-2018: S9105, A11257
2021-2022: S705, A1270
2023-2024: S4146, A115

2019-S4555 (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.

2019-S4555 (ACTIVE) - Sponsor Memo

2019-S4555 (ACTIVE) - Bill Text download pdf

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   4555
 
                        2019-2020 Regular Sessions
 
                             I N  S E N A T E
 
                              March 14, 2019
                                ___________
 
 Introduced  by Sens. KAPLAN, 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.
   § 899-CCC. DEFINITIONS. AS USED IN THIS ARTICLE, THE  FOLLOWING  TERMS
 SHALL HAVE THE FOLLOWING MEANINGS:
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
              

Comments

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.

Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.