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LA HB1219
Bill
Status
Introduced
3/31/2026
Primary Sponsor
Lauren Ventrella
Click for details
AI Summary
- Creates the "Consumer Legal Funding Act" to regulate companies that provide cash advances to plaintiffs in exchange for a portion of their future lawsuit proceeds
- Caps the rate of return that lawsuit funders can charge at Louisiana's maximum conventional interest rate under R.S. 9:3500
- Requires written contracts with specific disclosures including total amount advanced, itemized fees, repayment method, and annual percentage rate displayed in bold 12-point font on the first page
- Prohibits funders from misrepresenting agreement terms, exceeding lawful rate caps, or requiring consumers to waive substantive legal rights
- Exempts attorney financing arrangements and medical care/treatment agreements from the regulations; violations constitute unfair trade practices enforceable by the attorney general or through private civil action
Legislative Description
Establishes regulations on consumer legal funding
CIVIL/LAW
Last Action
Read by title, under the rules, referred to the Committee on Civil Law and Procedure.
4/1/2026
Committee Referrals
Civil Law and Procedure4/1/2026
Full Bill Text
No bill text available