Bill > SB625

This bill amends the Oklahoma Discovery Code to require parties in commercial litigation to disclose commercial litigation funding agreements upon request and create new requirements for such disclosures. Specifically, parties must produce any commercial litigation funding agreement when requested, and this agreement must be accompanied by a sworn certification stating whether the funding comes from a foreign state or its agencies. The bill introduces new definitions for terms like "commercial litigation funder" and "commercial litigation funding agreement", and requires parties to disclose whether they are controlled by a "foreign adversary" when such an agreement exists. The bill prohibits information about these funding agreements from being admissible as evidence at trial, with an exception for consumer litigation funding agreements. Additionally, the bill mandates that parties certify whether they will allow access to litigation documents to entities controlled by foreign adversaries, and if such access might occur, they must specify which persons would have such access. The legislation aims to increase transparency in litigation funding while protecting sensitive information, and is set to become effective on November 1, 2025.

Justice

http://www.oklegislature.gov/BillInfo.aspx?Bill=sb625&Session=2600