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House amends maintenance funding practices, establishes registry and reporting requirements
Summary
House Bill 312, which creates a lightweight regulatory framework for firms that advance settlement proceeds to plaintiffs (maintenance funding), was adopted with a second substitute after sponsor changes and passed the House 64-3; the bill creates a registry with the consumer protection division and reporting requirements.
Representative Dunnigan presented House Bill 312 on Feb. 25 to set a basic framework for companies that provide maintenance funding (advances against anticipated settlements). The sponsor said these companies advance money to individuals awaiting settlements and then recover advances…
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