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Committee advances substitute for Senate Bill 54 requiring disclosure of third‑party litigation funding
Summary
The Senate Judiciary Committee adopted a substitute for Senate Bill 54 that would require parties to disclose third‑party litigation funding agreements to the court and to other parties, and would direct the Judicial Council to study and report on those agreements beginning in 2030.
The Senate Judiciary Committee on an undisclosed date voted to advance the senate substitute for Senate Bill 54 after adopting amendments of the committee. The measure would require parties to provide courts with third‑party litigation funding agreements and to deliver sworn statements to other parties, and it adds reporting duties for the Judicial Council.
The reviser told the committee, “before you, you have a proposed substitute bill,” and summarized key provisions, saying the substitute requires a party to provide the court with any third‑party litigation funding agreement “within 30 days after the action is commenced or after that agreement is executed, whichever is later,” and to deliver a sworn statement to other parties in the same 30‑day time frame. The…
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