3rd-Party Litigation Funding Regs Proposed In Texas

Law360, Dallas (February 14, 2013, 6:56 PM EST) -- Texas state Rep. Senfronia Thompson, D-Houston, on Thursday proposed setting up a regulatory scheme to allow companies or individuals with no stake in litigation to take a share of potential proceeds in exchange for an upfront payment.

Thompson's bill, H.B. 1254 or the Civil Justice Funding Act, sets out a regulatory framework that would allow potential plaintiffs — those with bona fide civil legal claims who've retained attorneys under a contingent fee agreement — to assign contingent rights to receive an amount of any winnings to...
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