HB 2755 Summary

• Establishes new chapter 12-28 in Arizona Revised Statutes regulating litigation financing agreements, defined as loans or funding provided to parties or counsel contingent on case outcomes.

• Requires litigation financiers to maintain "litigation blind pools" where investors do not receive identifying details about funded cases, and prohibits disclosure of case information or parties' proprietary information to third parties.

• Exempts from regulation: personal loans to parties, contingency fee arrangements by attorneys, indemnification agreements, non-contingent bank loans, nonprofit organization funding, and medical receivables financing.

• Grants exclusive enforcement authority to the Arizona Attorney General to investigate violations, subpoena documents and witnesses, seek injunctions, and order restitution to aggrieved persons.

• Applies to all litigation financing pending or commenced on or after the effective date within Arizona, but excludes financiers operating solely outside the state.