A bill for an act relating to third-party litigation funding and including applicability provisions.

Summary

The bill creates the Third‑Party Litigation Funding Transparency Act, requiring funding companies and financiers to register with the Iowa Secretary of State, disclose contract terms to consumers, and follow strict prohibitions on fees and influence. It applies to consumers who receive non‑recourse funding for lawsuits and to the companies that provide that funding. The aim is to protect consumers from hidden costs and undue influence in litigation financing.

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