Signed by Governor Jim Justice, Jr.

Vote Smart's Synopsis:

Vote to pass a bill that rescinds commercial tort claims from litigation financing with respect to non-profit organizations in West Virginia.

Highlights:

• Defines terms related to litigation financing (Sec. 1). 

• Rescinds commercial tort claims exclusion from definition of litigation financing (Sec. 1). 

• Exempts excluding certain non-profit organizations from the definition of litigation financing (Sec. 1). 

• Prohibits the  assignment of litigation financing contracts in certain instances (Sec. 1). 

• Requires the disclosure of third-party litigation financing agreements to parties (Sec. 1). 

• Specifies who is to provide disclosure of third-party litigation financing agreements (Sec. 1). 

• Establishes a cap for the annual fee a litigation financier may charge a natural person (Sec. 1).

Full Bill Text