FL S1612

Creates the "Litigation Financing Consumer Protection Act" requiring litigation financiers to register with the Department of State and file a $250,000 surety bond before operating in Florida

Caps interest rates at 35% per annum simple interest, with interest accrual limited to 3 years maximum or until a court order or settlement is reached, whichever comes first

Requires written contracts with mandatory disclosures including total funded amount, itemized fees, interest rates, and payment schedules in 6-month intervals for 3 years

Grants consumers a 5-business-day right to cancel contracts without penalty by returning funds and providing written notice

Prohibits litigation financiers from paying or accepting referral fees, providing legal advice, directing litigation decisions, assigning contracts, or advertising false information