ND HB1372

Requires litigation financers to obtain a license from the Commissioner of Financial Institutions, with a $400 application fee, $400 annual license fee, $50,000 surety bond, and $25,000 minimum net worth requirement

Caps litigation financing payments at 36% of any judgment, settlement, or monetary recovery; prohibits financers from influencing case decisions, providing legal advice, or assigning contracts

Prohibits foreign entities of concern (including those on OFAC sanctions lists, designated terrorist organizations, or from countries banned from purchasing ND property) from participating in litigation financing

Requires written contracts with mandatory disclosures in 14-point boldface type, including a 5-day cancellation right, and service of financing agreements on opposing parties in civil litigation

Violations constitute a Class C felony with civil penalties up to $100,000 per occurrence plus $1,000 per day; non-compliant contracts are rendered unenforceable