Rep. Lou Lang
Filed: 1/6/2011
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| 1 | AMENDMENT TO SENATE BILL 3322
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| 2 | AMENDMENT NO. ______. Amend Senate Bill 3322, AS AMENDED, | ||||||
| 3 | with reference to page and line numbers of House Amendment No. | ||||||
| 4 | 2, as follows:
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| 5 | on page 11, line 5, after "claims", by inserting ", attorney | ||||||
| 6 | fees, attorney liens,"; and | ||||||
| 7 | on page 12, by replacing lines 2 through 5, with the following: | ||||||
| 8 | "of the legal claim. If a lawyer or law firm represents one or | ||||||
| 9 | more consumers with outstanding civil litigation fundings from | ||||||
| 10 | the same civil litigation funding company, that civil | ||||||
| 11 | litigation funding company may not provide any type of funding | ||||||
| 12 | to the lawyer or law firm."; and | ||||||
| 13 | on page 13, line 14, after "permitted.", by inserting "The | ||||||
| 14 | civil litigation funding company is prohibited from advancing, | ||||||
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| 1 | loaning, assigning, or otherwise providing funds, directly or | ||||||
| 2 | indirectly, to any attorney, law firm, or related entity for | ||||||
| 3 | the purposes of researching, investigating, developing, | ||||||
| 4 | prosecuting, or otherwise representing parties in class action | ||||||
| 5 | mass tort litigation."; and | ||||||
| 6 | on page 20, by replacing lines 16 through 24, with the | ||||||
| 7 | following: | ||||||
| 8 | "(e) No licensee shall conduct the business of providing | ||||||
| 9 | non-recourse civil litigation funding under this Act within any | ||||||
| 10 | office, suite, room, or place of business in which any other | ||||||
| 11 | business is solicited or engaged unless the other business is | ||||||
| 12 | licensed by the Department and, in the opinion of the | ||||||
| 13 | Secretary, the other business would not be contrary to the best | ||||||
| 14 | interests of consumers and is authorized by the Secretary in | ||||||
| 15 | writing.".
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