MO HB26

Creates regulatory framework for civil justice funding companies that purchase contingent rights to proceeds from consumers' pending legal claims in exchange for upfront cash advances

Requires companies to register with the Missouri Department of Insurance, with $500 initial application fee and $200 biennial renewal fee, plus potential bond requirement up to $50,000

Mandates consumer protections including 5-business-day right to cancel, contracts in 12-point bold type with required disclosures, and prohibition on repayment if the legal claim produces no proceeds (nonrecourse)

Prohibits funding companies from paying or accepting referral fees to/from attorneys, medical providers, or chiropractors, and bars companies from influencing settlement decisions in the underlying legal claim

Requires payment amounts to be set as predetermined time-based intervals rather than percentages of case recovery, with attorneys obligated to pay funding companies within 10 business days of case resolution