FL S1276

Creates the "Litigation Investment Safeguards and Transparency Act" establishing Part II of Chapter 69, Florida Statutes, to regulate litigation financing agreements where a financier funds legal proceedings in exchange for a contingent share of proceeds

Requires parties or counsel who enter litigation financing agreements to disclose the agreement's existence and provide copies to all opposing parties, the court, and any known indemnitors within 30 days, without awaiting a discovery request; also mandates disclosure of any foreign person, foreign principal, or sovereign wealth fund involvement to the Department of Financial Services and Attorney General

Prohibits litigation financiers from directing litigation strategy, settlement decisions, or choice of counsel; bars them from receiving a larger share of proceeds than the plaintiffs collectively recover after attorney fees, and prohibits paying referral fees to attorneys or health care practitioners

Requires litigation financiers to indemnify plaintiffs and their counsel against adverse costs, attorney fees, damages, or sanctions ordered in the funded proceeding, except those resulting from intentional misconduct

Agreements executed in violation of the act are void and unenforceable, with violations of prohibited conduct and indemnification requirements actionable under Florida's Deceptive and Unfair Trade Practices Act; effective July 1, 2024, with disclosure requirements applying retroactively to proceedings pending on that date