OH SB322

Requires companies providing non-recourse civil litigation advances to register with the superintendent of financial institutions and pay a registration fee of up to $150.

Mandates detailed contract disclosures including total advance amount, one-time fees, repayment amount over 36 months, and annual percentage rate, all in 12-point bold type on the front page.

Limits annual fees to 10% of the original advance amount and caps interest rates at the rate established under section 5703.47 plus 3%, with advances not exceeding three years.

Prohibits companies from paying referral fees to attorneys or medical providers, providing legal advice, assigning contracts to third parties, and entering transactions with attorneys who have financial interests in the company.

Makes violations unfair or deceptive acts under consumer protection law, rendering non-compliant contracts legally unenforceable and entitling injured consumers to damages and remedies.