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NE LB199
Bill
Status
1/14/2025
Primary Sponsor
Tony Sorrentino
Click for details
AI Summary
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Reduces the statute of limitations for personal injury actions from four years to two years, applying only to causes of action accruing on or after the act's effective date
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Expands the Nonrecourse Civil Litigation Act to cover claims presented in administrative proceedings, not just civil court actions
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Requires consumers or their attorneys to disclose litigation funding contracts to all parties, courts/agencies, and any insurers with indemnification obligations within 30 days of signing or amending
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Makes litigation funding contracts and all participants subject to discovery in any legal claim where funding is provided
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Authorizes the Secretary of State to suspend, revoke, or refuse to renew a civil litigation funding company's registration for knowingly violating the new disclosure requirements
Legislative Description
Change the statute of limitations for personal injury actions, include administrative proceedings within the Nonrecourse Civil Litigation Act, require disclosures by consumers under such act, and provide for discipline against civil litigation funding companies
Last Action
Title printed. Carryover bill
1/7/2026