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Bill > SB1137
TN SB1137
TN SB1137AN ACT to amend Tennessee Code Annotated, Title 47, Chapter 16, relative to relative to litigation financiers.
summary
Introduced
02/06/2025
02/06/2025
In Committee
Crossed Over
03/10/2025
03/10/2025
Passed
04/16/2025
04/16/2025
Dead
Signed/Enacted/Adopted
04/29/2025
04/29/2025
Introduced Session
114th General Assembly
Bill Summary
As enacted, allows a litigation financier that is not a business entity or partnership to amend or withdraw its registration with the secretary of state by filing a form prescribed by the secretary of state, along with a filing fee of $20. - Amends TCA Title 47, Chapter 16.
AI Summary
This bill amends Tennessee's existing law regarding litigation financiers, which are companies or individuals that provide funding to plaintiffs in legal cases in exchange for a portion of any potential settlement or judgment. Specifically, the bill modifies the registration procedures for litigation financiers that are not formal business entities or partnerships. Under the new legislation, such individual litigation financiers can now amend or withdraw their registration with the Tennessee Secretary of State by submitting a prescribed form and paying a $20 filing fee. This change appears to provide a more streamlined process for individual litigation financiers to update or cancel their official registration, making the administrative process more flexible and potentially less burdensome. The bill will take effect immediately upon becoming law, as determined by the Tennessee General Assembly.
Committee Categories
Business and Industry
Sponsors (2)
Last Action
Effective date(s) 04/24/2025 (on 04/29/2025)
bill text
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB1137&ga=114 |
| BillText | https://publications.tnsosfiles.com/acts/114/pub/pc0271.pdf |
| Fiscal Note - SB1137 | https://www.capitol.tn.gov/Bills/114/Fiscal/SB1137.pdf |
| BillText | https://www.capitol.tn.gov/Bills/114/Bill/SB1137.pdf |
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