Iowa legislation · 91st General Assembly
Iowa SF53: A BILL FOR An Act prohibiting litigation financing contracts, and including effective date and applicability provisions
Status: In committee, January 23, 2025
An Act prohibiting litigation financing contracts, and including effective date and applicability provisions.
What the bill says
A bill FOR An Act prohibiting litigation financing contracts, and including effective date and applicability provisions.
From the introduced text, January 15, 2025:
A BILL FOR An Act prohibiting litigation financing contracts, and including effective date and applicability provisions. BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: TLSB 1643SS (1) cm/jh S.F. Section 1. NEW SECTION. 537A.7 Litigation financing contracts ---- void. A litigation financing contract that is a nonrecourse transaction in which financing is provided to a consumer, attorney, or law firm in return for the consumer, attorney, or law firm assigning a contingent right to receive an amount of the potential proceeds of the consumer's judgment award, settlement, or verdict obtained with respect to the consumer's legal claim is void, unlawful, and unenforceable. This section does not prohibit the provision of legal services on a contingency fee basis, or the advancement of legal costs, where such services or costs are provided for or on behalf of a consumer by an attorney representing the consumer in the dispute and in accordance with Iowa rules of professional conduct, a commercial tort claim as defined in section 554.9102, or a claim under chapter 87. Sec. 2. EFFECTIVE DATE. This Act, being deemed of immediate importance, takes effect upon enactment. Sec. 3. APPLICABILITY. This Act applies to litigation financing contracts entered into on or after the effective date of this Act. EXPLANATION The inclusion of this explanation does not constitute agreement …
Sponsors
- Adrian Dickey (R, 44) · primary sponsor
Latest actions
- : Subcommittee recommends passage.
- : Subcommittee Meeting: 01/23/2025 10:00AM Senate Lounge.
- : Subcommittee: Bousselot, Blake, and Evans. S.J. 108 .
- : Introduced, referred to Judiciary. S.J. 89 .
Common questions
- What is SF53?
- SF53 is a bill in the Iowa Legislature (91st General Assembly): A BILL FOR An Act prohibiting litigation financing contracts, and including effective date and applicability provisions.
- What does SF53 do?
- In its own words: A bill FOR An Act prohibiting litigation financing contracts, and including effective date and applicability provisions.
- What is the status of SF53?
- In committee as of January 23, 2025. Latest action: Subcommittee recommends passage. (January 23, 2025).
- Who sponsored SF53?
- Adrian Dickey (R, 44).
- Where is the official record for SF53?
- On the Iowa Legislature website: https://www.legis.iowa.gov/legislation/BillBook?ba=SF+0053&ga=91
Source: official Iowa record. Tracked by Delilah, AI for legislation across all 50 states and Congress.