Bill > HB733

This bill establishes the "Third-Party Litigation Funding Transparency Act" in New Hampshire, aiming to protect consumers involved in commercial litigation financing. It defines "commercial litigation financier" as a business that enters into these agreements, and a "commercial litigation financing agreement" as a contract where a third party provides funds for a civil action in exchange for a stake in the proceeds, with specific exclusions for certain types of agreements like those involving non-profits or standard contingency fee arrangements. The bill prohibits commercial litigation financiers from entering into agreements with foreign entities of concern, which are defined as entities linked to countries or individuals on U.S. sanctions lists. Crucially, it mandates that claimants or their attorneys must proactively disclose any commercial litigation financing agreements to all parties in a pending civil action at the time the action is filed and whenever the agreement is amended, and insurers with a duty to defend or indemnify must also receive these disclosures. Furthermore, these agreements and their participants are subject to discovery in legal claims. The bill also clarifies definitions for "consumer," "consumer legal funding," and "legal claim." Violations of this new chapter will be treated as violations of the New Hampshire consumer protection act, and the act will take effect on January 1, 2026.

Budget and Finance, Business and Industry, Justice

https://gc.nh.gov/bill_Status/billinfo.aspx?id=747&inflect=2