MA H1182

Creates a new Chapter 167K requiring commercial litigation financiers to register with the Division of Banks before entering into financing agreements in Massachusetts, with registrations renewed every two years and expiring December 31st

Prohibits litigation financing agreements with foreign entities of concern, including those on federal sanctions lists, organized in adversarial foreign countries, or designated as foreign terrorist organizations

Requires commercial litigation financiers to owe a fiduciary duty to claimants and prohibits them from influencing litigation decisions including choice of counsel, expert witnesses, strategy, or settlement

Mandates disclosure of all commercial litigation financing agreements to opposing parties and insurers when a legal claim is filed, and makes such agreements subject to discovery

Requires annual reporting to the Division of Banks on number of fundings, total dollar amounts funded, and annual percentage rates charged to recipients