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AR SB216
Bill
Status
Failed
4/27/2011
Primary Sponsor
Johnny Key
Click for details
AI Summary
- Adds Subchapter 4 to Arkansas Code Title 4, Chapter 70 to prohibit nonrecourse civil litigation advances
- Defines a nonrecourse civil litigation advance as payment of money, property, or consideration to a person with a civil claim in exchange for a percentage or specified amount of settlement or judgment proceeds
- Establishes violation of the prohibition as a Class D felony
- Exempts advances made or fees earned by attorneys permitted under the Arkansas Rules of Professional Conduct
- Exempts advances required by state or federal law
Legislative Description
To Establish The Consumer Legal Funding Act.
Last Action
Senate Sine Die adjournment
4/27/2011
Committee Referrals
Judiciary2/2/2011
Full Bill Text
No bill text available